I see three reasons for me to take this trade as a buy.
1. If the price bounces from the ranges 1820.148/ to1818.468 and turn bullish , then this will be giving us the 4th to 5th elliot wave impulse.
2. 0-1 leg is equal to wave 4 - 5 . if this is true then wav 5 is going to be at 1.13 of wave 2-3 fib level.
3. If this is true then price will drop to wave 1 highs as prices corrects the wave. the highs of wave 1 is at 0.786 of XC of the cypher pattern and of the fib levels
conclusion
If this is true X A B C D
0 0 0.382 1.13 0.786
Then we can buy the D leg of the cypher pattern and go long with the setup. note this is from the 1H timeframe
1. If the price bounces from the ranges 1820.148/ to1818.468 and turn bullish , then this will be giving us the 4th to 5th elliot wave impulse.
2. 0-1 leg is equal to wave 4 - 5 . if this is true then wav 5 is going to be at 1.13 of wave 2-3 fib level.
3. If this is true then price will drop to wave 1 highs as prices corrects the wave. the highs of wave 1 is at 0.786 of XC of the cypher pattern and of the fib levels
conclusion
If this is true X A B C D
0 0 0.382 1.13 0.786
Then we can buy the D leg of the cypher pattern and go long with the setup. note this is from the 1H timeframe
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.