The most relevant target cluster for wave C is between 110.350 and 110.700
This cluster is in conjunction with the bearish trend line.
The bullish trend is powerful enough to assume that it can reach the mentioned target.
In the case of time, the 62% level was passed so the most relevant level will be 100%. the cross point of this time level and the mentioned price cluster may be the point of reversal.
In the case of momentum, the weekly is bearish and the daily is overbought, so it is likely to have a main reversal.
The most appropriate strategy for those who has take short position before, is to take long position with the same volume for the target of wave C. after that if any kind of reversal observed, another short position will boost the potential benefit of bearish trend for the trader.
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Regards...
This cluster is in conjunction with the bearish trend line.
The bullish trend is powerful enough to assume that it can reach the mentioned target.
In the case of time, the 62% level was passed so the most relevant level will be 100%. the cross point of this time level and the mentioned price cluster may be the point of reversal.
In the case of momentum, the weekly is bearish and the daily is overbought, so it is likely to have a main reversal.
The most appropriate strategy for those who has take short position before, is to take long position with the same volume for the target of wave C. after that if any kind of reversal observed, another short position will boost the potential benefit of bearish trend for the trader.
Please write your comments.
Regards...