Probable formation of Ending Diagonal in wave C
As mentioned in the previous analysis, wave 4 is point where the triangle pattern is forming. With overviewing the details below the e-wave from the triangle pattern, the probable scenario from this point is in the C wave, which shows the Expanded Flat pattern has been formed.
To confirm this pattern, for the advent of uptrend, the price needs to cross the range of USD 1950 (the end of wave 4 of the Expanded Flat pattern). In case, if the target price of USD 1970 breaks out (starting point of the pattern), then the next target price in USD 1991 is expected.
As the price tests the range of USD 1991, the uptrend for the triangle pattern begins, which can extend up to the targets of USD 2100 to USD 2150.
In addition, be cautious about the convergence which has been formed in the 240-minute time frame, which confirming the strong uptrend.
Also take this note, the USD 1902 range is very important, if the price crosses over this range, the analysis will be nulled.
To confirm this pattern, for the advent of uptrend, the price needs to cross the range of USD 1950 (the end of wave 4 of the Expanded Flat pattern). In case, if the target price of USD 1970 breaks out (starting point of the pattern), then the next target price in USD 1991 is expected.
As the price tests the range of USD 1991, the uptrend for the triangle pattern begins, which can extend up to the targets of USD 2100 to USD 2150.
In addition, be cautious about the convergence which has been formed in the 240-minute time frame, which confirming the strong uptrend.
Also take this note, the USD 1902 range is very important, if the price crosses over this range, the analysis will be nulled.
액티브 트레이드:
It seems the Expanded Diagonal pattern is completed and we should wait for the uptrend. The main confirmation for the uptrend starts when the price crossing the USD 1950.40 range.
Earlier confirmation can be given by the advent of the USD1933 range.
www.tradingview.com/chart/PQ42K8M2/
Earlier confirmation can be given by the advent of the USD1933 range.
www.tradingview.com/chart/PQ42K8M2/
