Since January 2026, we have been in a price channel.
We broke through it downwards, and I assume that we have formed a five-wave structure (0.55175 - high, 0.54065 - low).
I assume that we are now in an upward correction structure, and after its completion, I expect the downward movement to continue.
Due to the unstable situation in the world and the formation of gaps on the charts, I recommend considering short positions after breaking through wave B, with a stop above the level of wave C (when it ends).
This idea will be invalidated if the price rises above the level of 0.55175.
Trade safe!
We broke through it downwards, and I assume that we have formed a five-wave structure (0.55175 - high, 0.54065 - low).
I assume that we are now in an upward correction structure, and after its completion, I expect the downward movement to continue.
Due to the unstable situation in the world and the formation of gaps on the charts, I recommend considering short positions after breaking through wave B, with a stop above the level of wave C (when it ends).
This idea will be invalidated if the price rises above the level of 0.55175.
Trade safe!
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📊Want more market insights & ready-made setups?
→ Join our free Telegram: t.me/patternsoncapital_public
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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.