Full outlook. Elliot wave & other technicals analyses
Looks like price is about to complete an Elliot-Wave #5 before it might reverse into a 3 wave downtrend move. The 1.3250's look like a decent area of multiple resistance for countertrend traders to take short entries.
Break down of the 1.3250:
*Uptrend channel - Price first overshot the channel then undershot. Which leads to the believe of a weakening of the uptrend.
*Projection of 100% of wave 1 & wave 3 end in this price area
*Other Fibonacci extension levels that typically act as R&S cluster around this area
The more traders you have on your side the higher is your POP, Probability of Profit
Paired with a Risk to Reward of 1 to 2 or even 3 makes it a valid trading opportunity.
*Disclaimer: Reference is made to the disclaimer under lorbeerinvesmtent.com Please apply risk management before taking action upon a tip.
Break down of the 1.3250:
*Uptrend channel - Price first overshot the channel then undershot. Which leads to the believe of a weakening of the uptrend.
*Projection of 100% of wave 1 & wave 3 end in this price area
*Other Fibonacci extension levels that typically act as R&S cluster around this area
The more traders you have on your side the higher is your POP, Probability of Profit
Paired with a Risk to Reward of 1 to 2 or even 3 makes it a valid trading opportunity.
*Disclaimer: Reference is made to the disclaimer under lorbeerinvesmtent.com Please apply risk management before taking action upon a tip.
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.
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.