WLD 6H-Bearish Divergence
A bearish divergence has been identified on the 6-hour timeframe, with price now reaching a key supply zone, signaling potential weakness in the current trend. I anticipate a complex corrective structure, which could be sharp, as we are currently in a wave 2 retracement phase. Given the positioning of wave 2, the correction may be deeper than usual before the impulsive wave 3 follows, which could bring a stronger move in the market.
This setup suggests a critical juncture where the correction could provide an opportunity for positioning ahead of the potential rally in wave 3.
This setup suggests a critical juncture where the correction could provide an opportunity for positioning ahead of the potential rally in wave 3.
Trade closed: target reached
retracement reached
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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.