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It took a while but it finally reversed!
possible divergences to make a price reversal
PRZ found at the bottom confirmed by a bull divergence. There's also a fork incoming in a few days
It's working out well
Institutions are buying the news so they're dragging the price down to liquidate the retailers.
Their intent shows in the price action and indicators.
Targets are .382 and .618 retrace
Here's a closeup analysis on Wave 4
in confluence with the topping out major uptrend found using elliot waves
Came up with this chart assuming the major structure correction is an AB=CD harmonic pattern.
Showing here how can the correction of the large structure can be completed with targets based on harmonic patterns.
Either a 40% short or a 100% long
A breakout above the ABCDE triangle might validate the pattern.
could play the bearish gartley
Bearish scenario where a large corrective structure will happen.
Gartley formed with a bull divergence on level D
confluence with the order block (red line in volume profile)
Wave 5 and point D share a common price level for reversal
This pattern will be confirmed if a bull divergence with CCI is formed.