As seen in the annotations I made on the chart (also refer to my previous post),
my assumption is that the price is currently in wave 4, where a typical 38.2% correction occurs.
In the previous post, I was uncertain about the wave 4 pattern that had formed.
However, today's movement might provide some insight.
At this moment, it is possible to take a sell position with the invalidation/SL as seen in the chart.
We should then wait for confirmation to take a buy position after wave Z ends (estimated to reach 38.2%).
Any candlestick confirmation, pattern, double bottom, or other reversal signals can be considered
goodluck
my assumption is that the price is currently in wave 4, where a typical 38.2% correction occurs.
In the previous post, I was uncertain about the wave 4 pattern that had formed.
However, today's movement might provide some insight.
At this moment, it is possible to take a sell position with the invalidation/SL as seen in the chart.
We should then wait for confirmation to take a buy position after wave Z ends (estimated to reach 38.2%).
Any candlestick confirmation, pattern, double bottom, or other reversal signals can be considered
goodluck
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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.