We have a classical SND format drawn up, and we see that price is currently held by the supply zone of 0.46.
The ABC pattern follows my Elliot Wave concept, considering the 0.46 as a wave 3, so the point (C) will be a wave advancing to a wave 5.
With the rise of this mini-wave 5 from (C), we expect it to reach above (B) and eventually stretch to 0.48.
So the B-C wave is a risky wave because the Elliott Wave 4 can surprise you and break the low of 2 as a note.
H1 ADAUSD bullish interest.
.
Khiwe
On this profile page, the shared analysis, ideas, and strategy of a chart belong to Khiwe, with some being influenced. The technical setups are speculative; they are not guaranteed for accuracy or completeness in the form of any content, and they are not intended to provide financial market advice. Please apply your own analysis and confirm it with price action.
The ABC pattern follows my Elliot Wave concept, considering the 0.46 as a wave 3, so the point (C) will be a wave advancing to a wave 5.
With the rise of this mini-wave 5 from (C), we expect it to reach above (B) and eventually stretch to 0.48.
So the B-C wave is a risky wave because the Elliott Wave 4 can surprise you and break the low of 2 as a note.
H1 ADAUSD bullish interest.
.
Khiwe
On this profile page, the shared analysis, ideas, and strategy of a chart belong to Khiwe, with some being influenced. The technical setups are speculative; they are not guaranteed for accuracy or completeness in the form of any content, and they are not intended to provide financial market advice. Please apply your own analysis and confirm it with price action.
Trade closed manually:
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