Hello Traders
The previous bottom can be the end of the monthly running flat, and we can have a crazily big up impulse. But my forecast is a correction under the orange trendline and more downside for a deeper running flat. So my expectation is an up impulse anyway. That's why I want to take a long trade. Downward structure bounced back from 0.886 retracements of the green A, and what it has been making after that looks like a reversal pattern. That's why I placed a pending order over the last top. My target is 0.272 extension of green A, 0.382 retracements of down impulse and the trendline.
For more details and the daily updates please watch my daily analysis videos on Youtube.
For twice as many trade setups and many more benefits, join the trading group.
For some extra content and other good stuff, please visit my webpage.
All links can be found in the signature section up above.
Trade with care.
Bulent
The previous bottom can be the end of the monthly running flat, and we can have a crazily big up impulse. But my forecast is a correction under the orange trendline and more downside for a deeper running flat. So my expectation is an up impulse anyway. That's why I want to take a long trade. Downward structure bounced back from 0.886 retracements of the green A, and what it has been making after that looks like a reversal pattern. That's why I placed a pending order over the last top. My target is 0.272 extension of green A, 0.382 retracements of down impulse and the trendline.
For more details and the daily updates please watch my daily analysis videos on Youtube.
For twice as many trade setups and many more benefits, join the trading group.
For some extra content and other good stuff, please visit my webpage.
All links can be found in the signature section up above.
Trade with care.
Bulent