Price is moving down and will soon reach a key level where we have too many reasons to believe that it will bounce from that level.
1. Lower parallel of a rising channel
2. 0.618 fib level of previous impulsive wave up
3. Pevious structure level (look left)
4. Potential ABC corrective pattern
5. MACD Divergence
Although we have too may factors to buy the market at that level, for a much safer trade we should wait for a buy setup to form at that level.
1. Lower parallel of a rising channel
2. 0.618 fib level of previous impulsive wave up
3. Pevious structure level (look left)
4. Potential ABC corrective pattern
5. MACD Divergence
Although we have too may factors to buy the market at that level, for a much safer trade we should wait for a buy setup to form at that level.
