long diagonal 1-2 setup in a larger 1-2 diagonal setup
This is a choppy 5 wave move to the upside(diagonal), so it's not really reliable as an impulse to the upside but this came after another larger diagonal to the upside. So this is a potential 1-2 setup in a larger 1-2 setup with a substantial third wave rally to come. Risk to reward ratio is very good as we are now very close to the the support box for long trade which is the black fibonacci box.
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.