| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 164.26 |
| Take Profit | 129.85, 115.00 |
| Stop Loss | 191.63 |
| Key Levels | 115.00, 129.85, 191.63, 215.00, 230.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 191.65 |
| Take Profit | 215.00, 230.00 |
| Stop Loss | 183.85 |
| Key Levels | 115.00, 129.85, 191.63, 215.00, 230.00 |
A fall is possible.
On the daily chart, the third wave of the higher level (3) ended, and a correction started as the fourth wave (4). Now, the wave А of (4) is developing, within which the first wave of the lower level i of A has formed, and a correction is ending as the second wave ii of A. If the assumption is correct, the price of the asset will fall to the area of 129.85–115.00. In this scenario, critical stop loss level is 191.63.
Main scenario
Short positions will become relevant below the level of 191.63 with the targets at 129.85–115.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 191.63 will let the asset grow to the area of 215.00–230.00.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
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