Since nearly 5 years we had been transiting a bearish correction channel. After US election we experienced a bullish impulse not yet corrected. Anyway we had already arrived Wave 4 and ready to bear back. Watch price action. If flag, then probable fast bull impulse. Be aware that price could be reaching 2.80 but after that ready to bear. If broken, new entry point bull will be 3.00. In this trading idea Entry bear 2.45 SL 2.68 TP1 2.20 expect correction and then TP2 2.00 or Wave 5 end.
Comments
fabrusvr
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What the rationale of light blue horizontal line on the chart? How do you choose resistance levels? (are pivotal levels?)
fabrusvr
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I'm sorry but I never head about a 4 wave corrective action. Astonishing... Usually corrective actions are 3 waves ones (Elliott theory), your chart is, at best, FUNNY.