price has been bound between the converging trendlines, forming the falling wedge. Taking in consideration the Elliot wave theory, has been forming the A-E corrective triangle formation.Ill be expecting price to move to the upside with considerable bullish momentum after a move to the downside, towards the lower part of the falling wedge.
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if price breaks to the upside then my trade would be invalidated, but I'm prepared for that.
Not anticipating a steep drop. I think 175 will hold and it turn side way in a range. 1500 is still consider the level for this year. The idea was to buy under 1500 and well above 1500.