change the trend According to the behavior of the price in the current support range, possible scenarios have been identified. It is expected that a trend change will take place and we will witness the beginning of an upward trend.
Otherwise, it will be possible to continue the downward trend up to the specified Fibonacci levels
Neo Wave
PHB looks bearishPHB appears to be involved in an ABC correction.
Now it looks like the inside of wave B and wave B looks like a triangle.
The red range of supply is the best place for a sell/short position.
The targets are clear on the chart
Closing a daily candle above the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Possibility of uptrend It is expected that after some fluctuation, the continuation of the upward trend will be formed, and with the stabilization above the resistance range, the continuation of the upward trend will be likely.
If the index passes the level of 23%, the continuation of the correction process will be possible