what is clearly can be seen in this chart is a fully clear abc corrective wave in 3-3-5 form looking back too the weakly chart say me that we may be in the start of the 3rd wave . but analyzing data is a little bit complicated about this chart
so i got 2 plane for this
plane a 70%
price has some strong support i his way to down
1-daily and weekly support zone yellow color
2- 50% fibo lvl that is acceptable due to the Elliott rule for wave 2
3- Trend line that seems is nicely effective
4- down way is losing power due to price action
in this plane i expect a nice jump to high as 3rd wave
plane b 30%
the possibility of happening this is so low but it would be better to consider it
if price break the level to down this mean he will face one daily weekly level zone that is placed at the 161% of the fib of wave 1 in downtrend (wave a)
so should we buy now : i prefer to wait for trend change confirmation due to price action and indicators
so please trade with care and good hunt
so i got 2 plane for this
plane a 70%
price has some strong support i his way to down
1-daily and weekly support zone yellow color
2- 50% fibo lvl that is acceptable due to the Elliott rule for wave 2
3- Trend line that seems is nicely effective
4- down way is losing power due to price action
in this plane i expect a nice jump to high as 3rd wave
plane b 30%
the possibility of happening this is so low but it would be better to consider it
if price break the level to down this mean he will face one daily weekly level zone that is placed at the 161% of the fib of wave 1 in downtrend (wave a)
so should we buy now : i prefer to wait for trend change confirmation due to price action and indicators
so please trade with care and good hunt