So im looking at a possible Bullish cypher forming.
We have had our impulse leg X to A form and also the A to B leg.
What im waiting for is the rise up to point C, as I have highlighted this is a pervious area of resistance and the price has dropped from these levels. Point C would also be in the Oversold area of the RSI and also would be inline with a resistance point on the weekly chart.
The fall to point D would be in a previous area of support in structure and also on the daily the point in which we broke our of that ranging action and saw the push up. this also bodes well for the targets of 382 and 618 if we get down to this level
We have had our impulse leg X to A form and also the A to B leg.
What im waiting for is the rise up to point C, as I have highlighted this is a pervious area of resistance and the price has dropped from these levels. Point C would also be in the Oversold area of the RSI and also would be inline with a resistance point on the weekly chart.
The fall to point D would be in a previous area of support in structure and also on the daily the point in which we broke our of that ranging action and saw the push up. this also bodes well for the targets of 382 and 618 if we get down to this level