Elliot Wave, Wychoff and Master Pattern Analysis
Notes the 4th Elliot wave structure in a form of a channel of which price broke out impulsively. The 4th waves average price is a significant zone for a reversal and it aligns closely with the neckline of the over extended M - Formation market with grey structure zone.
There might be potential selling opportunities in that zone as well.
There might be potential selling opportunities in that zone as well.
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.