We are observing the development of a five-wave impulse in the medium-term wave “2”.
The small wave “1” appears to be completing its movement, and I expect a correction in wave ‘2’ to the area of 1.15681, followed by a continuation of the upward movement in wave “3”. The minimum target for the movement is the resistance area of 1.18098.
I do not rule out the fact that wave “1” is not yet complete, so there is a possibility of the upward movement continuing without correction.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
The small wave “1” appears to be completing its movement, and I expect a correction in wave ‘2’ to the area of 1.15681, followed by a continuation of the upward movement in wave “3”. The minimum target for the movement is the resistance area of 1.18098.
I do not rule out the fact that wave “1” is not yet complete, so there is a possibility of the upward movement continuing without correction.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Note
Nevertheless, I expect a deeper correction to the 1.15750 area. This could be confirmed by an update of the local minimum of 1.16325.However, as usual, I recommend working with pending orders, as the upward movement is still a priority.
Trade active
The price has fully reached the area of potential end of correction in wave “2” (1.15909), and now I recommend to look out for long positions. The price is likely to start the impulse in wave “3” today or early next week.
Keeping an eye on the situation.
Note
We saw a great reaction from the 1.15754 area. The bulls took the initiative and this week I expect the scenario to be completed and the target of 1.18098 to be reached.
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✅ Free TELEGRAM channel: t.me/+3vRnN-6fQphiNDVi
🌅 INSTAGRAM: instagram.com/hellena_trader
🌅 INSTAGRAM: instagram.com/hellena_trader
Related publications
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.