Confluence of Long:
1. ABCDE Triangle - Correction (typically W4 of 5 wave impulse)
2. 11k S/R from AUG - SEP 2019 - holding
3. Demand Zone: 10600-10900
4. 1H + 4H Bullish DIV (hidden)
ABCDE - Leg E should retrace 50% of range of consolidation - (10600 - 11200) = 10900
LONG:
Entry - 10950
SL - 10800 = invalidation of ABCDE consolidation
Target = 11400 (previous top), 12000 (R from 2019)
1. ABCDE Triangle - Correction (typically W4 of 5 wave impulse)
2. 11k S/R from AUG - SEP 2019 - holding
3. Demand Zone: 10600-10900
4. 1H + 4H Bullish DIV (hidden)
ABCDE - Leg E should retrace 50% of range of consolidation - (10600 - 11200) = 10900
LONG:
Entry - 10950
SL - 10800 = invalidation of ABCDE consolidation
Target = 11400 (previous top), 12000 (R from 2019)
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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.