Overall trend is still downward.
Scenario #1
Wave iv has completed (or still in progress). Should wave iv is still in progress, the upward movements should be limited to 2287 - 2297 area.
Scenario #2
Price is moving downwards within the channel, creating an extended wave iii. Price could go down until 2180 - 2210 before some retracement (wave iv)
Scenario #3 (trend reversal)
Trend reversal is assumed if price crosses beyond the invalidation level (2217).
Scenario #1
Wave iv has completed (or still in progress). Should wave iv is still in progress, the upward movements should be limited to 2287 - 2297 area.
Scenario #2
Price is moving downwards within the channel, creating an extended wave iii. Price could go down until 2180 - 2210 before some retracement (wave iv)
Scenario #3 (trend reversal)
Trend reversal is assumed if price crosses beyond the invalidation level (2217).
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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.