I think based on the current area of value and overall downtrend we are more likely to see a bearish momentum shift, however a larger continuation is also possible
As we can see this weeks cycle is due to come to an end in the beginning of next week.
We are still high above the lower lateral support lines in the larger market cycle and we have come off the peak formation downwards.
In the next week we could see a return up a level before the continued move downwards or after a stop hunt early in the week we could see a...
Im not sure if this analysis is correct but based on the weekly cycle pattern of large financial institutions I believe we will be going further down on the downtrend before we see a reversal. The two trades I suggested could be high probability i believe if the patterns continues this way.
there is a good chance we will see an impulsive move to the downside here, it should be enough for a good risk/reward ration as I believe we have already likely seen the highest high of the current correction.
I would suggest a short move here, what do you guys think? Im new to this and would love feedback
