Scenario Timeframe Weekly Recommendation SELL Entry Point 174.40 Take Profit 160.85, 152.20 Stop Loss 178.90 Key Levels 152.20, 160.85, 198.00, 210.00, 220.00
Alternative scenario Recommendation BUY STOP Entry Point 198.05 Take Profit 210.00, 220.00 Stop Loss 194.05 Key Levels 152.20, 160.85, 198.00, 210.00, 220.00
The price is in a correction and a fall is possible.
On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the development of the fifth wave (5) started. Now, the entry first wave of the lower level 1 of (5) has ended, and a local correction is developing as the second wave 2 of (5), within which the wave a of 2 has formed. If the assumption is correct, the price of the asset will fall to the area of 160.85–152.20. In this scenario, critical stop loss level is 198.00.
Main scenario
Short positions will become relevant below the level of 198.00 with the targets at 160.85–152.20. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 198.00 will let the asset grow to the area of 210.00–220.00.
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 174.40 |
| Take Profit | 160.85, 152.20 |
| Stop Loss | 178.90 |
| Key Levels | 152.20, 160.85, 198.00, 210.00, 220.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 198.05 |
| Take Profit | 210.00, 220.00 |
| Stop Loss | 194.05 |
| Key Levels | 152.20, 160.85, 198.00, 210.00, 220.00 |
The price is in a correction and a fall is possible.
On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the development of the fifth wave (5) started. Now, the entry first wave of the lower level 1 of (5) has ended, and a local correction is developing as the second wave 2 of (5), within which the wave a of 2 has formed. If the assumption is correct, the price of the asset will fall to the area of 160.85–152.20. In this scenario, critical stop loss level is 198.00.
Main scenario
Short positions will become relevant below the level of 198.00 with the targets at 160.85–152.20. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 198.00 will let the asset grow to the area of 210.00–220.00.
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