Price action is compressing against horizontal resistance while riding a rising base, suggesting a completed 1–2 and positioning for an impulsive wave 3 breakout, followed by a wave 4 retest and a measured wave 5 extension.
Confirmation comes on a decisive breakout and hold above the range high; a brief throwback into former resistance is acceptable if structure stays intact.
Invalidation sits on sustained closes back below the rising trend line or a clean breach of the wave‑2 pivot, which would imply the structure is morphing into a corrective pattern.
Execution plan favors scaling on confirmation, trimming into projected wave 3 strength, re‑loading on a controlled wave 4 pullback, and final distribution into wave 5 targets.
If momentum stalls or gaps fail to hold, reduce risk and reassess the count versus an ABC/flat alternative.
Confirmation comes on a decisive breakout and hold above the range high; a brief throwback into former resistance is acceptable if structure stays intact.
Invalidation sits on sustained closes back below the rising trend line or a clean breach of the wave‑2 pivot, which would imply the structure is morphing into a corrective pattern.
Execution plan favors scaling on confirmation, trimming into projected wave 3 strength, re‑loading on a controlled wave 4 pullback, and final distribution into wave 5 targets.
If momentum stalls or gaps fail to hold, reduce risk and reassess the count versus an ABC/flat alternative.
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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.