The current state of the market shows that we are in Wave 3. This is currently at 1.618 of Wave 1 possibly making one alert to near the end of this. This is being confirmed by liquidity sweep on the 1 hour time frame at the top. We can enter Wave 4 which shows a 500 pip decline to near 3380 levels. Post this we will start Wave 5 which can take us to 3515 levels which will be Fibonacci extension of 1 of Wave 3. After this it is possible to see a big fall. Will update when we get there.
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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.