corrective wave X made abc flat correction of 38% . using wave w and x we have a potential yellow parallel channel.
price has made higher high above wave W, after end of flat correction at 1790 (SL of intraday buyers).
above wave w price is making triangle chart pattern.
we are in the wave y which has its first projection target at 1855 (TP of intraday buyers) .
(there is 50% retracement on daily chart at 1833, seller of that level will target for 1790)
(don't ignore 50% retracement at 1833 for intraday trade.)
support 1790
pivot 1815
resistance 1855
base level for intraday entry will be 1815 .
price has made higher high above wave W, after end of flat correction at 1790 (SL of intraday buyers).
above wave w price is making triangle chart pattern.
we are in the wave y which has its first projection target at 1855 (TP of intraday buyers) .
(there is 50% retracement on daily chart at 1833, seller of that level will target for 1790)
(don't ignore 50% retracement at 1833 for intraday trade.)
support 1790
pivot 1815
resistance 1855
base level for intraday entry will be 1815 .
Comment:
sell zone on daily chart 1833 to 1853
Comment: