It seems that the NFP has entered a corrective phase from the point where we placed the red arrow on the chart.
Currently, it appears to be in the bearish wave C of this phase, and wave C itself is a symmetrical pattern. At the moment, we are in wave g of this symmetrical pattern.
This symmetrical pattern could complete in the green zone, and the price may enter wave D, which is a bullish wave.
In the green zone, one could look for buy/long positions. it’s best to enter a position with confirmation.
A daily candle closing below the invalidation level would invalidate this analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Currently, it appears to be in the bearish wave C of this phase, and wave C itself is a symmetrical pattern. At the moment, we are in wave g of this symmetrical pattern.
This symmetrical pattern could complete in the green zone, and the price may enter wave D, which is a bullish wave.
In the green zone, one could look for buy/long positions. it’s best to enter a position with confirmation.
A daily candle closing below the invalidation level would invalidate this analysis.
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.