HI guys,
so to follow the past big ABC hypothesis. we know that C of ABC wave are made of 5 impulsives waves. we have 1 big impulse down and a 3 wavish bounce back to near 0.68 of this first wave. almost a perfect ratio for a wave 2. the bounce back (wave 2 of ABC)has attribute of a minor ABC .
This should look like this :
If this resistance break bulls will have break this bearish count :
but daily is still bearish so overall i place the bearish scenario first :
so to follow the past big ABC hypothesis. we know that C of ABC wave are made of 5 impulsives waves. we have 1 big impulse down and a 3 wavish bounce back to near 0.68 of this first wave. almost a perfect ratio for a wave 2. the bounce back (wave 2 of ABC)has attribute of a minor ABC .
This should look like this :
If this resistance break bulls will have break this bearish count :
but daily is still bearish so overall i place the bearish scenario first :
Note
addentumspike of volume at the potential revrsal zone (wave 2 of wave C)
Note
Bull testing upper resistance may be invalidating bearish trend. 
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Related publications
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.