As shown on the started BnF 5the sub-wave of the 3rd impulsive wave is completed with a wedge pattern.
Hence it has started its trend for wave 4 minor correction. RSI is also confirming a divergence and signals for a correction.
Wave 4 can make the double top and then go for fall as shown in the orange line or can directly go for fall as shown in pink. Let the market decide it.
Targets are marked on the chart as per the rules of wave analysis.
In a larger picture uptrend is still valid if target 2 is not breached.
Stay safe and trade safely.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
Hence it has started its trend for wave 4 minor correction. RSI is also confirming a divergence and signals for a correction.
Wave 4 can make the double top and then go for fall as shown in the orange line or can directly go for fall as shown in pink. Let the market decide it.
Targets are marked on the chart as per the rules of wave analysis.
In a larger picture uptrend is still valid if target 2 is not breached.
Stay safe and trade safely.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
Trade closed: target reached:
Targets reached.
