Hello, everyone!
We have a symmetrical triangle pattern in front of us, and I expect it to break downwards towards the Fibonacci level of 0.55 / 7.436 on the higher time frame.
Currently, the MA50 is acting as support, while the MA200 is providing resistance. We are moving within the C movement to overlap equal highs (eqh), from which I anticipate a correction to the Fibonacci level of 0.5 on the higher time frame and the completion of the C wave by touching the inclined line.
I consider the completion of the D wave to be at the ROS(ROC) horizontal trading angle, and the E wave to be completed by reaching a new high within the C movement. After that, I expect the formation to be fully executed.
Above, there's an additional level marked as the optimal point of entry for a short position (POI).
Best of luck!
We have a symmetrical triangle pattern in front of us, and I expect it to break downwards towards the Fibonacci level of 0.55 / 7.436 on the higher time frame.
Currently, the MA50 is acting as support, while the MA200 is providing resistance. We are moving within the C movement to overlap equal highs (eqh), from which I anticipate a correction to the Fibonacci level of 0.5 on the higher time frame and the completion of the C wave by touching the inclined line.
I consider the completion of the D wave to be at the ROS(ROC) horizontal trading angle, and the E wave to be completed by reaching a new high within the C movement. After that, I expect the formation to be fully executed.
Above, there's an additional level marked as the optimal point of entry for a short position (POI).
Best of luck!
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.