GOOD DAY TRADERS
Price has formed an ending diagonal as wave V, we are expecting a sharp correction pattern which will be the final structure of a complete wave and the correction is expected to go down to at least a 50% retracement but more likely 0.618 retracement level.
there has been presence of divergence which shows that the uptrend is loosing strength and we should be expecting a reversal and also price is at a very strong resistance level i.e 1.2477 and it has tested this level 3 times without breaking it and also a possible double top is in gradual formation on the 4hr chart you can check that up
im going shot on the market but i will advice you trade with caution due to covid 19
if you have a contrary opinion on my wave count or my analysis you can just leave a comment im open to learning.. thank you
Price has formed an ending diagonal as wave V, we are expecting a sharp correction pattern which will be the final structure of a complete wave and the correction is expected to go down to at least a 50% retracement but more likely 0.618 retracement level.
there has been presence of divergence which shows that the uptrend is loosing strength and we should be expecting a reversal and also price is at a very strong resistance level i.e 1.2477 and it has tested this level 3 times without breaking it and also a possible double top is in gradual formation on the 4hr chart you can check that up
im going shot on the market but i will advice you trade with caution due to covid 19
if you have a contrary opinion on my wave count or my analysis you can just leave a comment im open to learning.. thank you
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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.
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.