I just wanted to make sure I don't stick to one view and gave myself opportunity to have a alt count if market presses lower and we face new reality.
It is likely that five waves up for the 1st wave are done and we are currently in the 2nd wave. Second waves tend to complete at 50% level and if we are looking at the structure and tge ratios of it, we can get more fib confluence to that zone and that also lines up on S/R ZONE. So next level to watch for the Longs is at 8900 area.
Now let the market show us price action and we can take advantage of that.
It is likely that five waves up for the 1st wave are done and we are currently in the 2nd wave. Second waves tend to complete at 50% level and if we are looking at the structure and tge ratios of it, we can get more fib confluence to that zone and that also lines up on S/R ZONE. So next level to watch for the Longs is at 8900 area.
Now let the market show us price action and we can take advantage of that.
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.
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.