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Please be mindful of trying to find the bottom A trend is a trend until it is no more Hello, everyone! Two days ago I told you that I am waiting for local final dump to form my favorite reversal pattern. Because if you are waiting for the trend reverse or bounce after such huge dump everybody will hate you. Price action is following the Elliot Wave model fairly closely, which allows us to project the movement over the next couple days. Observations Violality in price movement remains high as the spreads between bid and asks become large in a sell-out bear market.
More sell at market prices and buy This looks like a buy area. The MACD is printing bullish divergence on the weekly histogram. Looks to have completed an ABC retrace. PRICE is in bigger correction phase of wave 4.
It is still in a bigger correction. So for next week I think this pair goes up to finish the correction and then drop lower again. I will look for sell setups when it reaches the 4H supply. If you want to learn more about trading with supply and demand and wave analysis, make sure to follow me. If you find this I t can now be seen we have tapped the lower diagonal of this curve which only happened in the Covid debacle! For next week I think this pair will go up more.
So I keep looking for buy setups. If you want to learn more about trading with supply and demand and wave analysis, please make sure to follow me, give a like and comment. This shared post is only my point of view on what Considering the support line lower channel and fib extension 1. I think we should have a lot of sellers taking profit at Get started.
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