Starting from the assumption that the corrective movement which began on July 18, 2024, is a WXY pattern, I consider the current movement to be the final leg of this formation. Accordingly, I have marked in yellow on the chart what I see as the most likely reversal date and target price level. The overall potential reversal zone is indicated by the two vertical grey lines, while the target price area is marked in green.
Trade active
Target not yet reached, structure has changed. But the timing perfectly worked.I still has doubts that the downside party is not over yet.
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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.