Price completed an impulsive wave 1-5 and about to complete the corrective ABC wave.
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The ABC correction which is likely to reverse from a confluence of ascending trend line, support level, and 38.2 Fib of the previous impulse.
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Considering that price is in an area of value, we will wait for the break of the blue Counter Trend Line for a buy entry.
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Price has the potential to move towards -27.0 Fib extension once it breaks our CTL, but we have to put the weekly resistance level that lined up with descending trendline in consideration.
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I hope you have a good start to the week. Go and win!
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The ABC correction which is likely to reverse from a confluence of ascending trend line, support level, and 38.2 Fib of the previous impulse.
.
Considering that price is in an area of value, we will wait for the break of the blue Counter Trend Line for a buy entry.
.
Price has the potential to move towards -27.0 Fib extension once it breaks our CTL, but we have to put the weekly resistance level that lined up with descending trendline in consideration.
.
I hope you have a good start to the week. Go and win!