Final impulse wave
correction has just completed around the 38.2% level- which is common for 4th waves, even more so when the 2nd wave corrects to the 61.8% level.
MACD is showing the same divergance now as it did in the 1st wave.
I hope this helps :)
MACD is showing the same divergance now as it did in the 1st wave.
I hope this helps :)
Note
Looking at the 4H, we may see retest of the high before the break down or a rejection from the .618,either way id wait for the break and a flag to confirm the structure.Note
The trend line was broken, now we looking at entering on a flag which will be the 2nd wave of the first wave. helpful comments are always appreciated.
Note
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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.