As anticipated, after completing wave 3, the price began moving downward in a flat wave 4 formation. Wave 5 of (C) is expected to conclude at the levels indicated on the chart, with a preference toward the 86,750 level.
From an SMC perspective, the price is currently in a buy-side imbalance (Fair Value Gap), meaning the price delivery algorithm is likely to retrace to this level to fill the gap before continuing toward the upside targets.
El- Sayed Owaidy, CETA, CFTe
Founder of The Egyptian Academy for Elliot Wave “EAEW”
Mohamed Magdy
“Senior Algorithm Trader” at Market Minds
From an SMC perspective, the price is currently in a buy-side imbalance (Fair Value Gap), meaning the price delivery algorithm is likely to retrace to this level to fill the gap before continuing toward the upside targets.
El- Sayed Owaidy, CETA, CFTe
Founder of The Egyptian Academy for Elliot Wave “EAEW”
Mohamed Magdy
“Senior Algorithm Trader” at Market Minds
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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.
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.