Hello, it looks like we have finished the abc correction after a stong impulse upside in wave A.
The wave c in abc correction was 5 wave impulse with an ending diagonal in wave 5 of 5 of 5.
We already have a strong upmove in place. Buy on dips seems to be a good trade as Risk/Reward > 4.
Target 0.9920 (C=A).
Stop 0.9583 (below current impulse)
The wave c in abc correction was 5 wave impulse with an ending diagonal in wave 5 of 5 of 5.
We already have a strong upmove in place. Buy on dips seems to be a good trade as Risk/Reward > 4.
Target 0.9920 (C=A).
Stop 0.9583 (below current impulse)
Trade closed: stop reached
Updated model below. C=A in corrective move = 0.786 of wave A in B (yellow)Note
Update. Approaching 78.6 Fib.
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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.