POL recently moved sideways within our magenta-colored Target Zone (between $0.4711 and $0.3058). We expect a drop below the previous low within this range before the price should place the low of the magenta-colored wave (2). Following this, it should rise above the resistance at $0.60 with the turquoise wave 1. Therefore, traders can open long positions within this range, placing any stops 1% below the lower boundary. If the price falls significantly below the $0.31 mark (42% likely), our alternative scenario will come into play, which anticipates an even lower wave alt.(2) in green.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
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.