i think from somewhere here will find resistance and it will make another drop to form a flat!
this may end up like this and proceed up, but what concerns me is the divergence on H4 and starting of all this from the bottom looks like start of corrective pattern with 3 wave structure, cose it didnt started with motive wave, all tho it can be taken as diagonal and diagonals can be motive patterns. need to be extra cautious!
im seeing similarity in these moves, see the firs divergence-small retrace and proceeding up. as on the other moove see divergence-small retrace and proceeding down same as on previous move! so seems its gonna drop more before turning up! And weekly chart have same structure like H4 chart.
as u can see the price is going in a diagonal and we r in anticipation of its last wave, but the consolidation that is making now (will be in chat section below with smaller time frame) now doesn't look like its gonna go down. if it were going down it would be gone till now. what im seeing in the correction it seems the price gonna go up to brake the top! for...
ABC correction by the book! showing divergence in the end of the C wave which seems like motive 5 wave structure...
as per my other chart, this looks like enough correction and should proceed up!
After finishing that pink expanded flat which gave recognizable divergence on RSI, seems we r going up to that orange resistance! it gave nice cypher pattern all tho it didnt touch 0.786 fib. but was very close to it, now my expectations are that it will brake that orange resistance and will proceed down below the bottom! but we will know that when we approach...
this big drop at UJ implies that for some time this pair will be in consolidation, because on bigger time frame we r going up and the pair is in the middle of wave C. first wave is D1 diagonal now will make consolidation between those orange support and resistance lines and will proceed another length wave A and is finishing exactly somewhere where wave C suppose...
EJ long term going sideways, will go up for 5th wave and back for wave C from weekly sideways.
need to see what correction it will make so we can catch it from the top, or to spot sell setup.. also MA's r showing how it will bounce among them.