on a daily in comments this has a big drop as very clear motive wave and perfect school correction.
now that move downwards the way that is moving in those parallels seems that is printing a diagonal. so since it is a beginning after a correction im expecting a motive wave, and in those parallels that last drop its too big for anything else to be considered except leading diagonal.
also that blue line looks like strong resistance which several times price bounced of it and now we r touching it with exhaustion in oscillating indicators and in overbought position.
also that last touch on MA's 100 and 200 where they crossed aka dead cross, resulted with big drop and now we r again touching MA100 and looks like its gonna reject it again.
this is for educational purposes so mind ur lot size! :)
now that move downwards the way that is moving in those parallels seems that is printing a diagonal. so since it is a beginning after a correction im expecting a motive wave, and in those parallels that last drop its too big for anything else to be considered except leading diagonal.
also that blue line looks like strong resistance which several times price bounced of it and now we r touching it with exhaustion in oscillating indicators and in overbought position.
also that last touch on MA's 100 and 200 where they crossed aka dead cross, resulted with big drop and now we r again touching MA100 and looks like its gonna reject it again.
this is for educational purposes so mind ur lot size! :)
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