From the point where we placed the red arrow on the chart, the RED correction has begun.
It seems to be inside an ABC structure, and we are currently in wave C, which is bearish.
A demand zone is visible on the chart, which could temporarily reject the price upward.
Since wave B did not retrace more than 0.618 of wave A, it is expected that the low of wave A will be taken out.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
It seems to be inside an ABC structure, and we are currently in wave C, which is bearish.
A demand zone is visible on the chart, which could temporarily reject the price upward.
Since wave B did not retrace more than 0.618 of wave A, it is expected that the low of wave A will be taken out.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
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🔷Our Telegram channel has daily spot and futures signals 👉 t.me/Behdark_EN
💎 Exclusive signals are only shared on our Telegram channel
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.