Price is moving inside descending channel. Currently price formed falling wedge pattern with very strong Divergence on RSI which indicates high probability trend reversal and long opportunity on lower timeframe.
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Price broke falling wedge pattern with impulse to the up side. Now the triangle patter is completed and price will continue to the up side.Note
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Whatch for correction pattern on lower time frame for another entry.Note
Analysis done by the book of Elliot Wave Principles with use of fibbonaci retracements and extensions. This is 5 minute chart it gives clearer picture what is price doing.Note
Update.Note
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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.