After completing its fifth wave, according to Elliott Wave Theory, the asset is poised for an ABC correction in the upside direction. The A wave has concluded, followed by the completion of the B wave in the form of a triangle pattern. Should the triangle break to the upside, it presents an opportunity to initiate trades in anticipation of the C wave, with a target set at 1905.
Trade closed: target reached
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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.