The wave ((b)) of the abc correction might be finished. We are in the areas where wave c, wave (y), and wave ((b)) should end. From here we can expect a reversal.
The wave ((b)) of the abc correction might be finished. We are in the areas where wave c, wave (y), and wave ((b)) should end. From here we can expect a reversal.
More downside is expected as an abc correction to finish wave (y) and ((b)). From there we go long again. However, if the current wave (x) high does not hold, another short can be initiated.
In the higher timeframe, we are still bearish but currently doing a correction to the upside. For traders, a good short opportunity is coming. Investors should wait for the next pullback to buy again.
As proposed yesterday, we sold the wave (x). If the current high does not hold, another short can be initiated. We now wait for more downside. Next step is to buy wave (y) and ((b)).
We are somewhere in between and we have to wait for more upside or downside before entering a trade. In case of more upside, the wave (x) can be sold. In case of more downside, the wave ((b)) can be bought.
We are somewhere in between and we have to wait for more upside or downside before entering a trade. In case of more upside, the wave (x) can be sold. In case of more downside, the wave ((b)) can be bought.
We are now somewhere in between and we have to wait for a bit more upside or downside before entering a trade. In case of a bit more upside, the wave (x) can be sold. In case of a bit more downside, the wave ((b)) can be bought.
The pullback in the higher timeframe is ongoing. We had 5 waves up as an impulse in the weekly and daily. Investors should wait for the completion of the pullback to buy. Traders should analyze the lower timeframe.
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European markets faced a challenging day yesterday, witnessing a continuation of losses. The DAX marked its fourth consecutive day of decline, while the FTSE100 closed lower for the...
Let's look back at the past trading week and learn from it. What went well? What could be better?
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The pullback in the higher timeframe is ongoing. We had 5 waves up as an impulse in the weekly and daily. Investors should wait for the completion of the pullback to buy. Traders should analyze the lower timeframe. There might be a good short opportunity next week.
The FTSE 100 Index (UK100) is consolidating above the Support of the 1D MA200 (orange trend-line) with the 1D RSI at 66.250. This is the symmetrical level is was trading at during the November 04 - 09 2022 consolidation. Both near the 1.5 Fibonacci extension level.
That fractal eventually broke upwards, hit the Lower Highs trend-line (the dominant Resistance) and...
