**Chart Analysis:**
- **Elliott Wave Formation**: Wave 1 is complete, and we’re in Wave 2’s corrective A-B-C phase.
- **Wave B Opportunity**: A BUY zone (green) has been identified, based on Fibonacci retracement levels and technical confluence.
- **Wave C Target**: After Wave B completes, Wave C provides a future sell opportunity to secure profits from the long trade.
- **Wave 3 Potential**: Wave 3, as per Elliott Wave theory, is typically the longest and most powerful wave. Target levels have been marked based on Fibonacci extensions.
- **Invalidation Level**: A break below [specific price level] will invalidate this setup.
**Trade Plan:**
- **Entry**: Place a buy limit order within the highlighted green zone (Wave B completion).
- **Targets**:
- **Target 1**: [First target level].
- **Target 2**: [Second target level].
- **Stop-Loss**: Below the invalidation point to protect capital.
**Rationale:**
- **Confluence Factors**: Fibonacci levels align with key support zones.
- **Market Context**: Bullish momentum aligns with overall market sentiment.
**Disclaimer:**
This analysis is for educational purposes only. Trade at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.