GMX/USDT completed the 5 waves of Elliot Waves and now it at corrective phase.
- Wave B pull back to 0.618 of wave A.
- Bearish momentum.
Potential short to the next support. As in few hours there will be CPI news coming out so be careful while trading.
GOOD LUCK!
Break of resistance, Retested at the moment.
Pullback to 30/50 Fibs!
Will be taking long if I see bullish engulfing here.
It will be a long run to next resistance.
After a sudden drop there is a buyers recovery.
On buyers recovery OP/USDT Made rising wedge ( Which is bearish pattern)
Fib 0.618 en-line with Resistance level, and it got rejected with inverted hammer from resistance.
Hoping for a drop to next support for TP!
TIP : "Remember, after every drop there is a buyers recovery and we drop back down to the same...
- After the drop FTM broke the major Daily support level. The same level is now resistance on 1Hr, 4Hr and Daily time frame!
- Retested Multiple times
- Bearish momentum on resistance
Expecting another Drop on FTM
