Greetings! We hit 100 Followers, welcome to all the new joiners :) Happy to have you here with us, thank you! ^-^
Today, we want to discuss two cases. :)
Case 1:
The recent high which formed a new ATH was the Wave 1 of our move up and now we are looking for the Wave 2 pullback in the red ABC of which we finished the A and are working on the B. The resistance area for B is between the 0.382 FIB at 119884 USD and the 0.886 FIB at 123685 USD. The Wave 2 support area is between the 0.382 FIB at 118400 USD and the 0.786 FIB at 114118 USD.
Case 2:
The Wave 1 topped on the 11th of August and we were looking for the Wave 2 pullback in the yellow ABC. The recent move up which created a new ATH was an overshooting B Wave and the move down afterwards the C Wave. In this case we want to see a 5 wave move up followed by a corrective pullback soon.
We think Case 1 is more likely to play out.
The Invalidation for both bullish counts is breaking below the low at 111850 USD.
Thanks for reading.
NO FINANCIAL ADVICE.
Today, we want to discuss two cases. :)
Case 1:
The recent high which formed a new ATH was the Wave 1 of our move up and now we are looking for the Wave 2 pullback in the red ABC of which we finished the A and are working on the B. The resistance area for B is between the 0.382 FIB at 119884 USD and the 0.886 FIB at 123685 USD. The Wave 2 support area is between the 0.382 FIB at 118400 USD and the 0.786 FIB at 114118 USD.
Case 2:
The Wave 1 topped on the 11th of August and we were looking for the Wave 2 pullback in the yellow ABC. The recent move up which created a new ATH was an overshooting B Wave and the move down afterwards the C Wave. In this case we want to see a 5 wave move up followed by a corrective pullback soon.
We think Case 1 is more likely to play out.
The Invalidation for both bullish counts is breaking below the low at 111850 USD.
Thanks for reading.
NO FINANCIAL ADVICE.
Trade active
Note
Recent move down might be a Wave B of an ABC that would form the red B Wave. The move down would be an overshooting B Wave in that case. Let's observe how it develops. :)
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.
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.