there is a divergence between price and MACD.
on the lower timeframes you can count 12345 of impulsive wave.
and wave 5 is at 38.2% distance of wave 1 to 3, from end of wave 4. (its typical relation for wave 5)
so it can be a turning point for some correction.
remember as you can see this trade setup is riskier than others, because im going to catch pips in the correction phase and its against overall up trend. and i dont know if it works, how many days it takes to reach to my target because corrections are complex; so if you can't manage trades like that, you'd better stay away from them.
on the lower timeframes you can count 12345 of impulsive wave.
and wave 5 is at 38.2% distance of wave 1 to 3, from end of wave 4. (its typical relation for wave 5)
so it can be a turning point for some correction.
remember as you can see this trade setup is riskier than others, because im going to catch pips in the correction phase and its against overall up trend. and i dont know if it works, how many days it takes to reach to my target because corrections are complex; so if you can't manage trades like that, you'd better stay away from them.