As can be seen, the different indicators are all pointing towards the end of the correction of EMC.
We have a divergence on the Elliott Waves Oscillator mening we will have a trend reversal.
We have an oversold RSI.
We have the selling volume slowing down.
Price has found support not only on the 0.382 fib but also on the 200 MA (4H time frame).
And last but not least, we are in the golden buy area zone between .618 and .382 fib
Happy trading!
We have a divergence on the Elliott Waves Oscillator mening we will have a trend reversal.
We have an oversold RSI.
We have the selling volume slowing down.
Price has found support not only on the 0.382 fib but also on the 200 MA (4H time frame).
And last but not least, we are in the golden buy area zone between .618 and .382 fib
Happy trading!
Comment:
If you trade you always have to be willing to be under water for a period as long as in the long run you reach your targets.
Comment:
There is a good support on the .236 fib, trade still active as long as he can keep above that fib level.
Comment:
For those who still have a trade active on EMC2, here is the pattern I believe the price will follow. Hope this helps!
But as you will see we have an oversold RSI which would indicate that the price will recover.