Shorter timeframe situation
Following up with the previous idea, I believe for the shorter timeframes (<30 mins), we could be possibly in the making of smaller degree ABC correction to the downside targeting ≈0.45.
Trade active
Lingering around the 0.382 fib extension from the bottom of the last dip to the local high. I'm still expecting another dip for the completion of the C subwave for (ii) at 0.618 fib extension (≈0.468).Trade closed: target reached
Bullseye! 0.618 fib hit at around 0.468!Profits taken.
Waiting for confirmation for long position entry.
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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.