TAO ANALYSIS (4H)
It seems we’ve completed a double correction, marking the end of wave A. At the point where we’ve placed the green arrow on the chart, it appears a bullish structure is taking shape.
The pattern forming resembles a diametric, and we are currently within wave E of this structure.
There’s potential for the price to be rejected downward from the red zone.
If the daily candle closes above the invalidation level, it would negate this analysis.
For effective risk management, make sure to set your stop loss and manage your capital accordingly.
Feel free to drop any questions in the comments.
Thank you!
The pattern forming resembles a diametric, and we are currently within wave E of this structure.
There’s potential for the price to be rejected downward from the red zone.
If the daily candle closes above the invalidation level, it would negate this analysis.
For effective risk management, make sure to set your stop loss and manage your capital accordingly.
Feel free to drop any questions in the comments.
Thank you!
Trade closed: stop reached
The price remained above the override level. Target is invalid.
See you in the next analysis
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.
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.