Use this as a guide to develop your view of the chart:
Main items we can see on the weekly timeframe:
a)The price has achieved our Weekly Target which was the Fibo Extension of the 3rd Motive Wave / On the same zone we detected a resistance before 2015 b)Now we expect a corrective Structure similar to the previous one. From there, we will make new conclusions c)By now, our only task is to wait and have enough information to develop a new setup (check the link to related ideas to see the previous forecast.) d)Using Elliott Wave Theory, we can conclude that the five motive waves are completed, and a correction should come.
good analysis.
but your idea is insulted from 2019 that Corona was not important as 2020.
I think more bullish
this is my Idea
please leave a comment your guide
ThinkingAntsOk
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@SEYED98, Definitely the main view still totally bullish not even one signal of reversal. The trend is in full momentum, but despite that, we expect corrections after big motive waves as a normal process of price movement. Our view forecast a correction (continuation structures), not a reversal. We also think that the price will keep rising as your analysis shows, but we focus on the short term movements that we can catch. On Friday, the price achieved our bullish target, and now we are waiting for re-entries. Still, we only trade after corrective structures, and we think we should see one of those on current levels (give enough margin) before a trend continuation /, Of course, this is just an interpretation of the price. We are always open to adapt our analysis when the price makes a different movement and start working again from there.
but your idea is insulted from 2019 that Corona was not important as 2020.
I think more bullish
this is my Idea
please leave a comment your guide