If we have the low in place, the supply areas are created by 1:1 corrections during this mid-term downward trend.
Each of the areas can result in making a new low. Especially dangerous for the long positions may be:
the blue area making the downward movement more like a 5 waves
the overlap of red & orange areas where the setup for a running flat can be...
LiveChat obviously is in a long-term upwards trend.
Since July '21, we can experience a mid-term downward trend, which we should treat as a correction.
This correction in a three-wave movement reached significant levels:
1. A 1:1 area (making wave 4 a range 100% - 127.2% of wave 2),
2. Fibo .382 - .414 of wave 3 (typical for wave 4),
3. Fibo .382 - .414...
