German BUND Approaching Resistance - Elliott wave analysis
Hi traders,
German BUND made a clear, five-wave drop in March, which is a sign of a bearish trend, however as we know after every five waves a temporary pullback may show up. Here we are observing a w-x-y correction underway, with resistance/bearish turn at the 174.80/176.8 region, where Fib. ratios of 0.618 and 0.786, and also equality measurement of waves w and y can suggest where price can slow down.
Once we see a five-wave minor rally within a (c) wave of y, and a sharp drop from potential resistance levels, and a breach below the lower channel line, that is when BUND can resume its bear run.
Trade well,
The EW-Forecast team
German BUND made a clear, five-wave drop in March, which is a sign of a bearish trend, however as we know after every five waves a temporary pullback may show up. Here we are observing a w-x-y correction underway, with resistance/bearish turn at the 174.80/176.8 region, where Fib. ratios of 0.618 and 0.786, and also equality measurement of waves w and y can suggest where price can slow down.
Once we see a five-wave minor rally within a (c) wave of y, and a sharp drop from potential resistance levels, and a breach below the lower channel line, that is when BUND can resume its bear run.
Trade well,
The EW-Forecast team
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.