As expected, the price reached to SP1 area twice, also we have three areas SP1, SP2, and SP3. The bottom should be one of these areas. To confirm that, we can see three Wolfe Waves and the bottom could be on one of these areas.
- Two bearish Wolfe Waves, and the remaining targets for these waves are number 5 where these could be in the around the same price.
- The Bullish Wolfe Waves, where many TAs have missed this Wolfe Waves, the remaining target for it, is number 6, which is also around number 5 for the bearish targets. From the SP2 or SP3 areas, maybe the end of the down trend and the bounce and the start of the uptrend.
- Major note: To confirm the end of the down trend, we should notice high volume get into the market from one of these areas SP1, SP2, or SP3.
Note: SP1, and SP2, and SP3 are also representing the Fibonacci retracement levels, as the time goes on, the retracement levels will change. This note is to inform you to focus more on the Fibonacci retracement levels not the prices itself.
- Two bearish Wolfe Waves, and the remaining targets for these waves are number 5 where these could be in the around the same price.
- The Bullish Wolfe Waves, where many TAs have missed this Wolfe Waves, the remaining target for it, is number 6, which is also around number 5 for the bearish targets. From the SP2 or SP3 areas, maybe the end of the down trend and the bounce and the start of the uptrend.
- Major note: To confirm the end of the down trend, we should notice high volume get into the market from one of these areas SP1, SP2, or SP3.
Note: SP1, and SP2, and SP3 are also representing the Fibonacci retracement levels, as the time goes on, the retracement levels will change. This note is to inform you to focus more on the Fibonacci retracement levels not the prices itself.
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Tg1:5200
Tg:4600
Tg:3200
Tg:4600
Tg:3200
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