The downtrend line needs to be monitored
In the weekly chart so far, we can count the structure of the sides of the C wave as 5-3-3-3 (like the Ending Diagonal pattern)
In this pattern the wave 1 is in the range of 1.19048
Wave 2 is in the range of 1.43767
Wave 3 is in the range of 14098
Wave 4 is over in the range of 1.34832, to complete this pattern, we need another downtrend. The downtrend line is very important and if this trend line breaks, we can leave this analysis away and move to the uptrend analysis.
In my opinion by testing the downtrend line we can go short for the target of 1.14
In the weekly chart so far, we can count the structure of the sides of the C wave as 5-3-3-3 (like the Ending Diagonal pattern)
In this pattern the wave 1 is in the range of 1.19048
Wave 2 is in the range of 1.43767
Wave 3 is in the range of 14098
Wave 4 is over in the range of 1.34832, to complete this pattern, we need another downtrend. The downtrend line is very important and if this trend line breaks, we can leave this analysis away and move to the uptrend analysis.
In my opinion by testing the downtrend line we can go short for the target of 1.14
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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.