Look like we got a ABC correction right here.
Wave C just touched the support line and ready to bounce back.
Enter trade when it passes 0.8754 point.
RSI shows over sought which is signal for enter trade.
Note: this is wave analysis based on Elliot 's wave theories, which means we only analyze wave s movement
and use that for signal to enter the trade. We are not dependent on Indicators to give us signals.
If RSI shows over sought or over bought by itself, it s not a signal.
We need to analyze the waves movement first, then RSI is just supporting our analysis.
Wave C just touched the support line and ready to bounce back.
Enter trade when it passes 0.8754 point.
RSI shows over sought which is signal for enter trade.
Note: this is wave analysis based on Elliot 's wave theories, which means we only analyze wave s movement
and use that for signal to enter the trade. We are not dependent on Indicators to give us signals.
If RSI shows over sought or over bought by itself, it s not a signal.
We need to analyze the waves movement first, then RSI is just supporting our analysis.