Awaiting price to break from a small bearish flag. Price action is not only in close proximity to respected trend line, but near a support level. Waiting for price break to go long. In my opinion I believe we are on the C leg of Elliot Wave corrective pattern. Look for confirmation to enter, I also advise you to facilitate this trade on a lower time frame for a better entry. Please execute with your own due diligence.
Elliot Wave pattern is incorrect, wave 2 should end between 50-60% of wave 1, It never ends less than 15%. Wave 4 cannot venture into the price zone of wave 1 either.
authors
⋅
@Godly, You explained this to me in the chat, I acknowledged you. No need to comment. Regardless of incorrect Elliot waves, trade is still valid.
Godly
⋅
@igpromotings, Constructive criticism my friend.
Cevizkabugu
⋅
Is there a piercing candle pattern just formed at 4H chart ?