Hello traders, I noted an Elliott wave aggressive bullish wave 1 run with strong bullish candles followed by a complex wave 2 correction then followed by a strong impulse 5 wave structure that I noted as wave 3 at premium. Currently, in a simple corrective wave 4 at the ( green area of interest) I see that wave 4 still is in progress and can potentially finish at the trap of fib.0618 making sure to leave some liquidity behind for later structure manipulation. Noting, that 4wave can not violate wave 2 territory per Elliott waves rules. When wave 4 is completed wave 5, I suggest will resume to grab the above the liquidity see in yellow @ 1 fib extension or more 1.272=(for Elliott wave traders).. note 30 min chart , confluence on 4hr and 12 hr chart
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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.