Technical Analysis:
Structure: Following the initial impulse (Wave A), the market executed a deep correction. By piercing the 0.618 level and rejecting the 0.786, the structure has likely shifted from a simple Zigzag to a Flat Correction.
Reaction: The 0.786 level acted as a strong resistance zone (Deep Crab / Butterfly limit), rejecting the bullish attempt.
Forecast: If this level holds, I anticipate the start of impulsive Wave C to the downside.
Trade Plan:
Confirmation: Waiting for a lower low or a break of local market structure on lower timeframes.
Target: Testing the Wave A low or lower.
Invalidation: A clean break above the swing high (1.0).
Is this the top of Wave B or just a Friday pause? Let me know your thoughts!
Structure: Following the initial impulse (Wave A), the market executed a deep correction. By piercing the 0.618 level and rejecting the 0.786, the structure has likely shifted from a simple Zigzag to a Flat Correction.
Reaction: The 0.786 level acted as a strong resistance zone (Deep Crab / Butterfly limit), rejecting the bullish attempt.
Forecast: If this level holds, I anticipate the start of impulsive Wave C to the downside.
Trade Plan:
Confirmation: Waiting for a lower low or a break of local market structure on lower timeframes.
Target: Testing the Wave A low or lower.
Invalidation: A clean break above the swing high (1.0).
Is this the top of Wave B or just a Friday pause? Let me know your thoughts!
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.