Starting from here
and now the market is at a crucial point to go up or down.
Sometimes movement like this is very hard to predict and we can try some next logical moves in this mess.
So blue or green?
I am watching this diagram many days already and trying to make the right conclusions!
So the black scenario is 3-3-5 scenario.
The orange is a falling wedge scenario.
We have in each case 3 targets.
I will add some links to this post later with clear pics of each scenario!
The ideal target is only one step away and a deeper correction is very possible after that!
If the price broke a strong resistance level then forget for backtesting and be ready for huge upside movement.
If Beam will have enough power to break out from wedge than Beam can have a huge upside movement!
If it will be rejected from the upper wedge trend line than the lower wedge trend line will be the second target.
A few possible scenarios can be right now!
-A breakout above the line of previous lows
-Rejection from the upper trend line and movement to lower trend line of Chanel-wedge
I am voting for the last one!