I just wanted to make sure I don't stick to one view and gave myself opportunity to have a alt count if market presses lower and we face new reality.
It is likely that five waves up for the 1st wave are done and we are currently in the 2nd wave. Second waves tend to complete at 50% level and if we are looking at the structure and tge ratios of it, we can get more fib confluence to that zone and that also lines up on S/R ZONE. So next level to watch for the Longs is at 8900 area.
Now let the market show us price action and we can take advantage of that.
It is likely that five waves up for the 1st wave are done and we are currently in the 2nd wave. Second waves tend to complete at 50% level and if we are looking at the structure and tge ratios of it, we can get more fib confluence to that zone and that also lines up on S/R ZONE. So next level to watch for the Longs is at 8900 area.
Now let the market show us price action and we can take advantage of that.
Trade active:
I added Another support level for 2nd wave to end at. That would be 61.8 and 1.618 of A extension confluence. I still believe first level to hold but we must be prepared for multiple scenarios
I added Another support level for 2nd wave to end at. That would be 61.8 and 1.618 of A extension confluence. I still believe first level to hold but we must be prepared for multiple scenarios