Below 40.43 we are looking to the downside to complete an expanded flat correction wave ((ii)).
Possible target into 30 usd price zone.
Possible target into 30 usd price zone.
Note
Price action still favor a move to the downside aiming for 0.764 fib retracement.
Below 35.85 we allow to unfold wave v of (c) of ((ii)).
Also oscillators starts diverging and signal a possible shift to the upside soon.
Note
Watching for evidences wave ((ii)) ended 30.12 right into 0.764 fib retracement.
Note
This is what we want to see from an wave 2, big retracement. Usually wave 2 is devastating creating panic and mistrust.
We are looking for good risk reward entries always and the best are wave 2 pullbacks. We do not encourage entries when price is increasing or to chase the price movements. We are talking only about probabilities. Nobody knows exactly what the price will do!!! At this moment is more logical and more probable to happen this scenario!! Good luck! and hope I clarified some of your questions.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.