On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops, within which the entry first wave of the lower level 1 of (5) forms. Now, the wave iii of 1 has ended, and a local correction has formed as the wave iv of 1. If the assumption is correct, the asset will grow to the area of 150.50–160.00. In this scenario, critical stop loss level is 121.10.
Main scenario
Long positions will become relevant above the level of 121.10 with the targets at 150.50–160.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 121.10 will let the asset go down to the area of 114.95–108.80.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.