We just finished ABC correction of Elliot wave, and we are looking for a retracement to a 50% fib zone.
Indicators:
AROON: Is showing bullish momentum (Orange line crossed blue one)
Bollinger bands: We bounced off of a bottom band
Entry: 0.257
Invalidation: 0.213
Target: 0.382
We have identified a strong ABCD pattern on BINANCE:ROSEUSDT , indicating a bullish trend in the short-term. However, I wouldn't rely on this pattern alone.
The stochastic RSI suggests that we are currently oversold, which checks out because we are indeed testing the support line in the middle of our current uptrend.
Additionally, the MACD tells us that...
