Following previous scenario, it looks like we now have a 5 wave correction down rather than an ABC.
With the 5th wave down, there is a possible buy zone now identified assuming a 5 wave correction up (BZ1)
Depending on risk profile, buy zone identified carries most risk but maximises reward - to minimise risk, optional buyzone identified at the base of the second wave up (BZ2). Note that third wave must cross blue line to break downward trend.
Stop loss identified if 5th wave continues below previous Low in line with lower resistance line. If this occurs, option to hold out for a new buy zone once final wave hits resistance as shown below stop loss point.
Opinion not advice
Comments welcome - 1B2rBfu9X4nms6EtuQWDQuNy87Jn9hYkJs for bitcoin 2.50% donations if you find this helps, and want to spread the love!
With the 5th wave down, there is a possible buy zone now identified assuming a 5 wave correction up (BZ1)
Depending on risk profile, buy zone identified carries most risk but maximises reward - to minimise risk, optional buyzone identified at the base of the second wave up (BZ2). Note that third wave must cross blue line to break downward trend.
Stop loss identified if 5th wave continues below previous Low in line with lower resistance line. If this occurs, option to hold out for a new buy zone once final wave hits resistance as shown below stop loss point.
Opinion not advice
Comments welcome - 1B2rBfu9X4nms6EtuQWDQuNy87Jn9hYkJs for bitcoin 2.50% donations if you find this helps, and want to spread the love!
