- Currently the price seems to be pulling back in wave 3 of C of 2.
- expecting the price to retrace till the daily demand zone (Equilibrium at 0.80).
- other potential reversal points:
1. 0.618 length of wave A - 0.8575
2. equal length of wave A - 0.7371
3. 0.618 retracement of wave 1 - 0.7522
- move below 0.5090 will invalidate this count.
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THIS IS MY ANALYSIS, PLEASE TRADE AT YOUR OWN RISK.
- expecting the price to retrace till the daily demand zone (Equilibrium at 0.80).
- other potential reversal points:
1. 0.618 length of wave A - 0.8575
2. equal length of wave A - 0.7371
3. 0.618 retracement of wave 1 - 0.7522
- move below 0.5090 will invalidate this count.
Please share and leave a like if you found this analysis useful :)
THIS IS MY ANALYSIS, PLEASE TRADE AT YOUR OWN RISK.
Note
mall correction in the first line, rephrased below:"Currently the price seems to be pulling back in wave 3 of 1 of C of 2."
update:
- the downside pressure/ weakness in price still continues
- price seems to be retracing for wave 4 of 1 of c of 2 for now.
- the above targets are based on logarithmic scale.
- on the linear scale, the downside target is between 0.70 - 0.64 range.
- wave c will be equal to wave at 0.6325 on linear scale.
- invalidation level remains the same at 0.5090.
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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.