I see many reasons to expect a rebound at this area. Looking at monthly chart we have an AB=CD pattern and a bollinger band duplication (one of my favorite tools) near the 0.7000 level.
On W1 chart we have a strong bullish divergence on AO, wave 5 blue circled seems to be complete also:
Here on D1 chart: - Wave 5 green complete - Bullish divergence on AO - Strong figure 0.7000
Best regards.
评论
NQunlocked
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FullTimeTrader
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Hello, i agree this pair has more downside potential. I expect some correction here and will be ready to sell again. There some valid EW counts to keep in mind, my main signal here is the bollinger band duplication on monthly chart, this is a setup a have backtested before. Regards.
NQunlocked
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I had the same outlook on this pair like you, but as you can see the downwards momentum is really strong, You made a very nice call on the correction!, there is just no more room to the downside before a minor correction. Regards, Hamza
SafwatMohamed
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first, i will buy @ 0.70024 and my target is 0.71387
FullTimeTrader
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Good short term targets.
BuyBitcoins
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Another reason, the news is entirely bad at this point, typical of wave 5.
IvanLabrie
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Maybe one more weekly AO divergent push for the bottom.
IvanLabrie
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AB=CD*1.618?
FullTimeTrader
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Im expecting just some rebound, i think price has more downside potential. My main signal here is the bollinger band duplication, the rest is confirmation. Regards.