We still expect magenta wave (2) to conclude within the magenta Target Zone between $1.03 and $0.38 – a range we consider attractive for long entries. That said, there's a 40% probability that magenta wave alt.(2) has already bottomed. If so, a direct breakout above resistance at $3.00 and $3.39 would confirm this alternative scenario and suggest that the corrective phase is already behind us.
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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
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.