The wave structure marked in red often indicates a corrective move. While it appears impulsive at first glance, such formations typically end with a strong candle in the direction of the trend, followed by a full retracement.
This rally is likely not a new bullish impulse but a complex correction within a broader downtrend. Volume remains relatively muted compared to previous sell-offs, reinforcing the corrective nature of the current wave.
Due to the structure's unreliability and tendency to reverse sharply, this is a highly dangerous zone to enter a long. However, for experienced traders, a minimal long position with a trailing stop may be considered for a final push toward the resistance zone around $590.
A failure to break that zone with volume will likely lead to a rapid decline back to previous lows around $400 or even $360.
This rally is likely not a new bullish impulse but a complex correction within a broader downtrend. Volume remains relatively muted compared to previous sell-offs, reinforcing the corrective nature of the current wave.
Due to the structure's unreliability and tendency to reverse sharply, this is a highly dangerous zone to enter a long. However, for experienced traders, a minimal long position with a trailing stop may be considered for a final push toward the resistance zone around $590.
A failure to break that zone with volume will likely lead to a rapid decline back to previous lows around $400 or even $360.
Dagangan ditutup: hentian tercapai
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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.
💼 Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
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.