Price reversed from a weekly support zone and broke into fresh high which completed impulsive Wave 1.
Price has retraced to retest the confluence area where mean value, 38.2 Fib ratio, and swing level lined up and also completed corrective Wave 2.
Considering that Wave 2 has completed with an excellent zigzag structure at our confluence zone, we will wait for the break of Counter Trend Line for long entry and ride the trend to the completion of Wave 3.
Barriers that we might encounter is resistance 1.5136 that lined up with a descending trendline, once price smashed through the level then we might see the bull take control.
Safe trading and thanks for reading!
Price has retraced to retest the confluence area where mean value, 38.2 Fib ratio, and swing level lined up and also completed corrective Wave 2.
Considering that Wave 2 has completed with an excellent zigzag structure at our confluence zone, we will wait for the break of Counter Trend Line for long entry and ride the trend to the completion of Wave 3.
Barriers that we might encounter is resistance 1.5136 that lined up with a descending trendline, once price smashed through the level then we might see the bull take control.
Safe trading and thanks for reading!
