this corrective pattern looks like a double combination.
Momentum is shifting from down to upside.
i will buy if it breaks above d wave of triangle.
Momentum is shifting from down to upside.
i will buy if it breaks above d wave of triangle.
Note
this pair didn't act as I expected. but now its making a deeper correction. I anticipate another wave to downside for a flat type of correction and then an impulsive wave as wave 5 to upsideNote
below is another scenario for this pair. structurally it may be in the wave 5 right now. so at this point there is no trade setup, we have to wait and see how price acts on that level.Note
although the scenario of one more wave to down for flat is preferableNote
Im waiting for this corrective pattern to end to join wave 3 of impulse
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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.