As you guys can see, this is a really tricky spot to be in.
We are stupid close to making a higher high above wave five, which will completely kill the ABC idea. But price will still pull back to the bullish order block around 16800.
I would wait for confirmation, based on what price does here.
Scenario 1: We do not make a higher high, and reverse to C leg low of 16700 and break up higher
Scenario 2: We make a higher high, at some point price still declines to the lower bullish order block right below leg A of the correction.
I still favor scenario 1, but ultimately, price action will be the deciding factor. There is no position to take at the moment.
We are stupid close to making a higher high above wave five, which will completely kill the ABC idea. But price will still pull back to the bullish order block around 16800.
I would wait for confirmation, based on what price does here.
Scenario 1: We do not make a higher high, and reverse to C leg low of 16700 and break up higher
Scenario 2: We make a higher high, at some point price still declines to the lower bullish order block right below leg A of the correction.
I still favor scenario 1, but ultimately, price action will be the deciding factor. There is no position to take at the moment.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.