Wave 2 Is In Progress
Until the 20th of August the full 5 waves of Elliot have been created, since that date the new (wave 1) has been shaped as a downtrend.
Wave 2 is in progress right now and it showed no respect to the (supply zone 1). I see that If price reaches the (supply zone 2) and a clear head & shoulder or double top pattern is created inside the zone or even slightly above or bellow it and the neckline is broken then it will drop to the nearest moving average or swing low.
DO NOT ENTER THE TRADE WITHOUT PROPER RISK MANAGEMENT YOU ARE REPONSIBLE FOR YOUR TRADES
Have a nice weekend
Wave 2 is in progress right now and it showed no respect to the (supply zone 1). I see that If price reaches the (supply zone 2) and a clear head & shoulder or double top pattern is created inside the zone or even slightly above or bellow it and the neckline is broken then it will drop to the nearest moving average or swing low.
DO NOT ENTER THE TRADE WITHOUT PROPER RISK MANAGEMENT YOU ARE REPONSIBLE FOR YOUR TRADES
Have a nice weekend
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