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We might be approaching the end of the fifth wave. Do you think we can retrace to the 61% zone of the previous low (wave 4)?
We are nearing an overbought area. We haven't gotten there just yet but I would like to see how the candle closes in a couple of hours. If the bull volume can close lower than the previous candle, we may be getting an early sign of weakness. Let's see how this goes. You can also say we are getting close to a double top if you like chart patterns.
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We might be approaching the end of the fifth wave. Do you think we can retrace to the 61% zone of the previous low (wave 4)?
We are nearing an overbought area. We haven't gotten there just yet but I would like to see how the candle closes in a couple of hours. If the bull volume can close lower than the previous candle, we may be getting an early sign of weakness. Let's see how this goes. You can also say we are getting close to a double top if you like chart patterns.
Follow an Like Let's build together!
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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.