Trade setup for next week. Expecting a final pull down to complete the cycle. Besides, the bottom will considered in place if for any reason the green line is breached.
More elaborated. Triangles are complex and always tricky. Sit back and wait, let the fractals unfold respectfully. Will long from (e) definitely.
This count suggests a completely bull market. The upcoming COVID new wave may slow down the market but next year Europe may come up with solid financial reforms. Upcoming wave 2 will be much interesting in terms of trading.
The minimum expectation sometime becomes too tiring and complex. Besides , we can catch many swings. Strictly stick to a tight plan while observing a triangle.
It is highly probable that the market may find resistance around 78.6% Fib Ret level. Trade only after confirmation. Short bias for me.
"Always expect a complex structure in 4 when you got a simple structure in wave 2 and vise versa".
"Always expect a complex structure in 4 when you got a simple structure in wave 2 and vise versa".
If it unfolds in the way expected, it may than give long opportunity below 30$. For short term trads wait for the triangle to unfold to catch red (c).
The pair may find resistance around the high of previous wave A and at the lower parallel line of the channel. trade only after confirmation.
Fist Support comes around 38.2% Fib Ret level where we can see an unfilled gap too. Second support is around 61.8% fib Ret level where farmer wave 2 ends. Stay calm, watch carefully and respect the market. It is important to understand the structures in coming developments.
This count tells a brutal bearish sentiment after a minor correction.
A final push down left to complete wave 4. Besides, any significant gain after a minor correction will confirm that the wave 4 is already finished.