The correction went even lower than I expected, and we even broke below the correction channel.
For my current wave count to be valid, we cannot go below 61.44 (black wave 1).
Considering the oversold RSI and the 3 waves down (green) to form blue wave C, I won´t take any short trades, even if the current trend is totally bearish.
I am waiting for price to go back into the channel to look for a reversal pattern and go long, with first target at $130 resistance.
For my current wave count to be valid, we cannot go below 61.44 (black wave 1).
Considering the oversold RSI and the 3 waves down (green) to form blue wave C, I won´t take any short trades, even if the current trend is totally bearish.
I am waiting for price to go back into the channel to look for a reversal pattern and go long, with first target at $130 resistance.
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👍 Simple, actionable content
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🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
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