Note: First of all, candle closings in the upper box invalidate everything I wrote below and show that this analysis is wrong. If this box is not entered or this box is not passed, my thoughts below are valid.
Analysis;
Fibonacci measurement at 4H may suggest that this is an elliot wave. But I don't think it's the elliot wave.
1st wavelength is too long
2. sellers consolidated too much
3 indicator values seem too high to me.
Fan intersections marked as circles on the graph should work as supports.
Check the rsi when the price comes to each circle area. If the rsi in 4H still has not fallen below 35 or if the rsi has not fallen below 60 in the daily time frame, it is possible that the decline will continue.
A good trade is the one in the last circle.
Note: This is not Investment advice.
Analysis;
Fibonacci measurement at 4H may suggest that this is an elliot wave. But I don't think it's the elliot wave.
1st wavelength is too long
2. sellers consolidated too much
3 indicator values seem too high to me.
Fan intersections marked as circles on the graph should work as supports.
Check the rsi when the price comes to each circle area. If the rsi in 4H still has not fallen below 35 or if the rsi has not fallen below 60 in the daily time frame, it is possible that the decline will continue.
A good trade is the one in the last circle.
Note: This is not Investment advice.
