Dear Colleagues, I suppose that price has not completed the upward movement. Having analyzed by wave analysis I suppose that the price is in the senior wave 3 and junior wave 1. I suppose that 2 options are possible: Either the price will renew wave 1 Or the price will correct in wave 2 to the range of 38.2-50% Fibonacci levels (1.08999), then it will start the upward movement in wave 3 (1.10241).
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Comment
⋅
Dear colleagues, I assume that if the price continues the upward movement without reaching the area of 38.2-50% Fibonacci levels, it is quite possible that this movement is the completion of wave 1. Therefore, I will recommend to transfer trades to breakeven and closely monitor what is happening on the markets.
Comment
⋅
The price tested the support area. A small update of the low is possible, but I consider only long positions!