Yesterday we made a really sharp move to the upside, the big question is what will happen next ?
I am anticipating two scenarios here, either we got our ABC move to the upside within our pump yesterday, or we still get our C leg and then pulling back down.
The 1:1 ratio is approximately at 21368 for the C leg if it comes.
The macro trend is still bearish overall, invalidation of our 5 wave move down comes in at 21880 (dotted line)
If the price crosses the recent low of 18601, then we will reach our lower targets marked as the white lines on the chart (1.272, 1.414, 1.618)
I personally think this scenario is most likely, but of course anything can happen.
I am anticipating two scenarios here, either we got our ABC move to the upside within our pump yesterday, or we still get our C leg and then pulling back down.
The 1:1 ratio is approximately at 21368 for the C leg if it comes.
The macro trend is still bearish overall, invalidation of our 5 wave move down comes in at 21880 (dotted line)
If the price crosses the recent low of 18601, then we will reach our lower targets marked as the white lines on the chart (1.272, 1.414, 1.618)
I personally think this scenario is most likely, but of course anything can happen.
