After a sharp impulsive leg price is into a corrective mode. In the chart price looks like is entering a high probability sell zone.
Reasons:
- Point (C) is at 0.786 of the impulsive leg and 1.27 of the XA leg.
- XA = BC
- At (C) point we find strong resistance from previous structure
- Overall trend is down
*This is my first idea in tradingview. I hope i'll enjoy my time in the community, meet good traders and share interesting setups. All comments are welcome!
Reasons:
- Point (C) is at 0.786 of the impulsive leg and 1.27 of the XA leg.
- XA = BC
- At (C) point we find strong resistance from previous structure
- Overall trend is down
*This is my first idea in tradingview. I hope i'll enjoy my time in the community, meet good traders and share interesting setups. All comments are welcome!
