The wave structure is showing a set-up for a C-wave down.
The correction pattern has just completed a ( 3 - 3 - X - 5 ) Flat B- wave correction pattern.
The 1 : 1( 80:80) ABC projection of the C-wave ends in the 1472 - 1476 zone
1.272 Extended C- wave projection is in the 1445 - 1451 zone.
The current Risk aversion and safe haven demand are the only market forces that can invalidate the bearish set-up.
A bullish breakout cannot be ignored just as a bearish short term trend is highly possible.
Trade with a tight stop loss or wait for valid confirmations before opening any entries.
Don't get caught up as price is in a critical timezone and a sharp move in both direction is possible.
The correction pattern has just completed a ( 3 - 3 - X - 5 ) Flat B- wave correction pattern.
The 1 : 1( 80:80) ABC projection of the C-wave ends in the 1472 - 1476 zone
1.272 Extended C- wave projection is in the 1445 - 1451 zone.
The current Risk aversion and safe haven demand are the only market forces that can invalidate the bearish set-up.
A bullish breakout cannot be ignored just as a bearish short term trend is highly possible.
Trade with a tight stop loss or wait for valid confirmations before opening any entries.
Don't get caught up as price is in a critical timezone and a sharp move in both direction is possible.