Price moves currently in correction of medium term downtrend.
Whole correction might develope in trinagle pattern and as for now quality of pattern in making is very good.
I expect breakout of the correction to downside and continueation of downtrend.
Looking at whole structure oc downtrend it will be last wave don on daily timeframe before reversal.
You can enter short after breakout of lower line of pattern.
Good luck
Whole correction might develope in trinagle pattern and as for now quality of pattern in making is very good.
I expect breakout of the correction to downside and continueation of downtrend.
Looking at whole structure oc downtrend it will be last wave don on daily timeframe before reversal.
You can enter short after breakout of lower line of pattern.
Good luck
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We did not get sell entry.
Triangle broke to the upside and looks like we have beginning g of a new trend and first impulse up.
Can go long at least to trendline with a high probability of breakout to the upside.
Triangle broke to the upside and looks like we have beginning g of a new trend and first impulse up.
Can go long at least to trendline with a high probability of breakout to the upside.
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Possible ways how the structure might develop.
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Still two possibilities.
Triangle in new trend with target around 15.6900 or flat ABC correction and continuation of downtrend at least to breaks / retests bottom.
Triangle in new trend with target around 15.6900 or flat ABC correction and continuation of downtrend at least to breaks / retests bottom.
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Turned to be a triangle after all.\\If you are not in sell can wait for sell setup.
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