"Scenario B" for Potential Bearish of Broadening Wedge
The 1st scenario is Broadening Wedge with rebound and break resistance, and then raise to another record with possible to break $2700 first.
In this "scenario B" , I try to make some exception for the resistance. Concern the resistance is too strong after the rebound, therefore we will find the correction until it break the support. After that we will find some retrace or swing high about 50% of last wave, and continue with the pressure to 2614 which is known as point B or point 2.
After the dip correction, please becareful with new demand probably will push the price for another uptrend. Well at least it corrected first before making new high on NFP next friday, right?
In this "scenario B" , I try to make some exception for the resistance. Concern the resistance is too strong after the rebound, therefore we will find the correction until it break the support. After that we will find some retrace or swing high about 50% of last wave, and continue with the pressure to 2614 which is known as point B or point 2.
After the dip correction, please becareful with new demand probably will push the price for another uptrend. Well at least it corrected first before making new high on NFP next friday, right?
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.