A big correction is pending in Index, Election time is near and vix needs to rise.
Possibility of a Bearish Wolfe Wave, 4th wave gave a false Breakout. Expecting a fall upto support trendline (T1), if this level breaks targeting 5th wave approx levels (40.0)
Expecting price to consolidate in the PRZ region and go for a correction. Possibilities of a Bearish Wolfe Wave formation exist.
Will wait for price action at 205-206. Bearish Wolfe wave and Bat pattern suggest good short around this zone.
01) Wolfe Wave ( Bearish ) 02) Price revert from upward channel top 03) RSI Bearish Divergence 04) Target - Green Trend line 05) SL - Above Swing high ------------------------------------------------------------- Note : This study for educational purpose only. ------------------------------------------------------------- Your likes on my ideas motivate...
01) Wolfe Wave ( Bearish ) 02) Price near upward channel top 03) RSI Bearish Divergence 04) Target - Pink Trend line 05) SL - Above Swing high ------------------------------------------------------------- Note : 1) Wait for entry below RED trend line. Note : 2) This study for educational purpose...