Elliot corrective wave 4 seems to look like a bearish pennant in the making.
Price move for wave 5 could be in confluence with Fib50 /Fib 61.8 retracement and some major resistance.
Big move downwards should nearing.
TP1 can be placed at previous lows (at (3))
Price move for wave 5 could be in confluence with Fib50 /Fib 61.8 retracement and some major resistance.
Big move downwards should nearing.
TP1 can be placed at previous lows (at (3))
Trade active:
Head and shoulders has shown up in the daily time frame for more downward confirmation.
Those not in the trade have 2000+pips to TP1 (21000) near March lows.
Those using R:R still have about 1:2 to TP1.
TP2 will be at next strong resistance near 19000 (See chart).
Those not in the trade have 2000+pips to TP1 (21000) near March lows.
Those using R:R still have about 1:2 to TP1.
TP2 will be at next strong resistance near 19000 (See chart).
