Price was trading within a downward channel in form of ABCDE waves with majority of the wave legs formed. Currently on the way for the last leg of wave E. Major level to watch is Immediate resistance zone. At this level both downward and upward pressure will be at war.
We should exercise patience to see which direction price tend to follow.
Immediate buy back level was shown on the chart. The idea about this is to have stop loss below the trendline should in case price tend to go down.
We should exercise patience to see which direction price tend to follow.
Immediate buy back level was shown on the chart. The idea about this is to have stop loss below the trendline should in case price tend to go down.
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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.