Starting our analysis on the daily chart, we can identify a breakout above the previous support/resistance line. As the bullish move, that made the breakout is also a motive wave, we do expect a correction now and another impulsive bullish wave noted with number 3 in the wave theory.
On the four hour chart, we can identify the same as we did on the daily timeframe. Keep an eye out for a longer correction before the anticipated bullish move formes.
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We wish you good luck with your trading!
On the four hour chart, we can identify the same as we did on the daily timeframe. Keep an eye out for a longer correction before the anticipated bullish move formes.
Feel free to grab a copy of our Free Weekly Market Outlook here:
mailchi.mp/bc78576d6...eweeklymarketoutlook
We wish you good luck with your trading!