Current View
The current view suggests that the corrective pullback could be a three-wave structure.
So, even if the market opens on a negative note, we can expect some consolidation around the previous day’s range.
Note: In this scenario, the market does not break the previous day’s low during the initial phase.
Alternate View:
The alternate view suggests that if the market starts negatively and breaks the previous day's bottom, we can expect correction continuation.
However, note that these kinds of gradual moves will react to each and every support level—take positions a little carefully.
The current view suggests that the corrective pullback could be a three-wave structure.
So, even if the market opens on a negative note, we can expect some consolidation around the previous day’s range.
Note: In this scenario, the market does not break the previous day’s low during the initial phase.
Alternate View:
The alternate view suggests that if the market starts negatively and breaks the previous day's bottom, we can expect correction continuation.
However, note that these kinds of gradual moves will react to each and every support level—take positions a little carefully.
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.
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.