Price is on the resistance of the DOWN channel after a stong and longer corrective wave since the beginning of the down trend ... we can see also a clear hidden divergence on the MACD and the RSI which gives too overbought indication , all this indications especially in the sensible zone (channel resistance) gives us a good BEARISH signal on the 4H time frame , still out the market waiting a good reversal candle is a good idea ... lets take a look at a 1h time frame and make a zoom on the corrective wave , to find the best point or moment to jump :)
this corrective wave still making HH and HL (higher highs and higher lows) inside an UP channel , but we can see easily a regular divergence on the RSI , that is good :) but what if the account of elliot waves is right ? i think divergence with the fifth elliot wave in up trend is a good signal to indicate the end of the cycle and the price will looking for acb correction , even reverse his trend :) any way on this time frame waiting the confirmation is good idea too , bellow the bottom of the 4 wave is good signal ... don t forget , TRADING IS WAITING ,,, good luck :)))
this corrective wave still making HH and HL (higher highs and higher lows) inside an UP channel , but we can see easily a regular divergence on the RSI , that is good :) but what if the account of elliot waves is right ? i think divergence with the fifth elliot wave in up trend is a good signal to indicate the end of the cycle and the price will looking for acb correction , even reverse his trend :) any way on this time frame waiting the confirmation is good idea too , bellow the bottom of the 4 wave is good signal ... don t forget , TRADING IS WAITING ,,, good luck :)))