Monitoring blue Median Line for Validation to upside.
Updated
A clear corrective structure has completed within the red Median Line. Now using a tentative blue Modified Schiff to monitor potential new uptrend. This also has the potential to morph into a more complex corrective structure like a triangle, or combination, but the blue zone & blue Median Line will give guidance with important support on the lower parallel. If the terminology is new to you, I have educational modules to help define the terminology and application of Median Lines on tradingmotives.com
Note
Monitor lower parallel for support. Deeper correction likely if it fails.Trade closed manually
Potential for a more complex corrective structure to unfold. Standing aside for now.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.