Hello traders !
This analysis is made on pure market structure !
You can see this analysis is based on The Elliot Wave Theory.
There are corrections (i - ii - iii) and waves (1 - 2 - 3 - 4 - 5 - 6) as you can see on the chart. After structure had been done,it has cretaed a Double Bottom pattern and then price shooted to the moon 😀.
Now we have the same scenario. Bullish engulfing confirmed The Double bottom pattern so we can enter long positions. If you are a bit lost in the structure,you can see a market structure scheme below. So compare it and say: "Nice ! History is repeating itself" !!!
Thank you for reading !
This analysis is made on pure market structure !
You can see this analysis is based on The Elliot Wave Theory.
There are corrections (i - ii - iii) and waves (1 - 2 - 3 - 4 - 5 - 6) as you can see on the chart. After structure had been done,it has cretaed a Double Bottom pattern and then price shooted to the moon 😀.
Now we have the same scenario. Bullish engulfing confirmed The Double bottom pattern so we can enter long positions. If you are a bit lost in the structure,you can see a market structure scheme below. So compare it and say: "Nice ! History is repeating itself" !!!
Thank you for reading !