We can see a nearly complete corrective structure to the 61.8% [Fibonacci level] with a clear ABC. Repeated reactions in the 4.48–4.38 supply zone have generated significant liquidity in the form of stop losses.
Wyckoff: A potential Spring is currently developing, though further downside remains possible, particularly to sweep liquidity.
If price advances, key resistance zones lie ahead (200 EMA, AVWAP confluence, and ultimately the 61.8% retracement from Wave B)
Wyckoff: A potential Spring is currently developing, though further downside remains possible, particularly to sweep liquidity.
If price advances, key resistance zones lie ahead (200 EMA, AVWAP confluence, and ultimately the 61.8% retracement from Wave B)
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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.