Not sure if the correction is over, could continue a little more, several possibilities in terms of structure, triangle or flat are the most likely.
Triangular structure drawn for illustration purposes.
As long as we don't break the support (also note where the MA100 and MA200 come in) and the trendline the direction to trade is still up.
Possible target defined for wave 5 (of 3?), stops for a long at market go below the support at least...
Triangular structure drawn for illustration purposes.
As long as we don't break the support (also note where the MA100 and MA200 come in) and the trendline the direction to trade is still up.
Possible target defined for wave 5 (of 3?), stops for a long at market go below the support at least...
Note
Well on it's way up again. Remember the triangle is only there for illustration purposes, the top line is not a trendline or anything. Possible that we're already in wave 5 after a flat ABC correction...Note
Possibilities...:Note
Update, back to support it seems...:
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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.