Price appears to have hit point C and came to a halt for now.
This formed an ABC pattern and the target is D. The pattern would then reverse back to the downside.
It does look like there may be some upside before another leg down but the market will most likely be a bit bouncy.
If one wanted to risk it, they may want to enter a trade long at 11845 and possibly exit at 12465.50, re-evaluate and maybe hit 13088ish.
The overall trend is down, but a market does not go straight up or straight down.
No recommendation/Just an observation.
The trend is your friend until it ends.
This formed an ABC pattern and the target is D. The pattern would then reverse back to the downside.
It does look like there may be some upside before another leg down but the market will most likely be a bit bouncy.
If one wanted to risk it, they may want to enter a trade long at 11845 and possibly exit at 12465.50, re-evaluate and maybe hit 13088ish.
The overall trend is down, but a market does not go straight up or straight down.
No recommendation/Just an observation.
The trend is your friend until it ends.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.