The exchange rate reached a US $ 6625 correction. My assumption is that from this level the movement of the exchange rate will turn north. The figure shows that the wave sequence tests the closing values of the PSAR indicator symmetrically. This is indicated by the yellow squares. The last backtest created a thinner square on both sides. Therefore, I expect the exchange rate to start a correction rise and to rise 23% from its current level. The target price is 8716usd.
@meszaros, Sorry, I'm a little tired around midnight. 3RR is correct.
Thegentelman
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I hope u're right but all higher timeframe is extremely bearish we are going down 😞
meszaros
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@Thegentelman, Thanks for the comment. I agree with you. Right now, I'm also waiting for a correction climb. In my analyzes I rarely publish a STOP position. However, I do this now because, in my estimation, a gain of around 2-3RR could be pulled in with this corrective move.