There are 2 scenarios here:
1️⃣ Breaking the previous top first (it can be sharp), then go for a Daily correction
2️⃣ Sliding lower slowly in a corrective fashion.
And it seems the first one is more possible (based on the current small flag shape structure just above the Weekly line which looks like a preparation for an impulse)
On the bigger picture, as shown on the chart, the expected wave / corrective structure, would make a channel for the future long term up move. 🤔
Happy Trading, Stay Green! ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖
💬 Please let me know your view about the idea
🔗 Check out the "Related ideas..." in the links below too
➖➖➖➖➖➖➖➖➖➖➖➖➖
1️⃣ Breaking the previous top first (it can be sharp), then go for a Daily correction
2️⃣ Sliding lower slowly in a corrective fashion.
And it seems the first one is more possible (based on the current small flag shape structure just above the Weekly line which looks like a preparation for an impulse)
On the bigger picture, as shown on the chart, the expected wave / corrective structure, would make a channel for the future long term up move. 🤔
Happy Trading, Stay Green! ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖
💬 Please let me know your view about the idea
🔗 Check out the "Related ideas..." in the links below too
➖➖➖➖➖➖➖➖➖➖➖➖➖
