we have 3 support structures here:
1- long term support line (sky blue)
2- basic support line (yellow)
3- 38% retrace line
we will watch how the price will react to that level (around 9500-9600) if it break down then we will be forming the last correction leg (E) in the major (ABCDE) correction
1- long term support line (sky blue)
2- basic support line (yellow)
3- 38% retrace line
we will watch how the price will react to that level (around 9500-9600) if it break down then we will be forming the last correction leg (E) in the major (ABCDE) correction
Note
we have a volume confirmation of the H&S, the price reached a critical area so let's see what happens Note
the big picture Note
If we break below 9390 (the sky blue long term trend line) then 100% guarantee we are goig down to complete the E waveNote
-just broke the long term trend line (sky blue) at 9390 level as i said
- if we close below it then the H&E will be confirmed and will fall to 9150
Target 1: 9150
Target 2: 8090
Target 3: 4660
Note
NOTE: Weekly candle is Bearish , and it will close today which signals most likely a bearish weekNote
- heavy support at this level
- waiting for the triangle to break
- double top as displayed
Order cancelled
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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.