Lets combine Elliot Wave and technival analysis. According to D1 chart price is bouncing from a long term S/R and neckline (triple top):
We see also a previous WXY structure already completed.
Here on H4 chart:
- 0.61 fib retracement
- first convergence
- trendline (channel) broken and retested
- H1 expanded flat
Thats all, entry point and targets are shown on chart.
Best regards
We see also a previous WXY structure already completed.
Here on H4 chart:
- 0.61 fib retracement
- first convergence
- trendline (channel) broken and retested
- H1 expanded flat
Thats all, entry point and targets are shown on chart.
Best regards
Trade active:
Trade still active SL almost reached, i think setup is still bearish
Trade closed: stop reached