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!
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.