After breaking of the upward channel, we have witnessed an impulsive decline in 5 waves. This impulsive decline has been followed by a seemingly irregular flat 3-3-5 correction which should be at or near completion, specially since the price is now at a stiff classic resistance zone.
If bears manage to take out the 185.111 support, I will be bearish for a 500 pips decline.
Good luck,
Ali Sharif Azadeh, CFTe
If bears manage to take out the 185.111 support, I will be bearish for a 500 pips decline.
Good luck,
Ali Sharif Azadeh, CFTe
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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.