Following up on my early July analysis...
The region I marked as "Running flat rebound area" has proved to be a solid support region. Looking at the 2 possibilities I mentioned in my last post, if we have a running flat the correction could be over and we´d be looking at longs from here on.
BUT... my primary count is still a regular flat, since we haven´t even retraced 38,2% of the 2020 rally. In that case, I expect price to test the 1.20 region and then head back down to 1.15.
The region I marked as "Running flat rebound area" has proved to be a solid support region. Looking at the 2 possibilities I mentioned in my last post, if we have a running flat the correction could be over and we´d be looking at longs from here on.
BUT... my primary count is still a regular flat, since we haven´t even retraced 38,2% of the 2020 rally. In that case, I expect price to test the 1.20 region and then head back down to 1.15.
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📈 Experienced Crypto trader
👍 Simple, actionable content
🌊 Elliott Wave junkie
🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
linktr.ee/stoic.trader
👍 Simple, actionable content
🌊 Elliott Wave junkie
🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
linktr.ee/stoic.trader
Related publications
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.