| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 633.94 |
| Take Profit | 541.43, 500.55 |
| Stop Loss | 694.77 |
| Key Levels | 500.55, 541.43, 694.77, 750.00, 800.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 694.80 |
| Take Profit | 750.00, 800.00 |
| Stop Loss | 676.40 |
| Key Levels | 500.55, 541.43, 694.77, 750.00, 800.00 |
The price is in a correction, a fall is possible.
On the daily chart, the upward wave of the higher level C develops, within which the first wave (1) of C forms. Now, the third wave of the lower level 3 of (1) has formed, and a correction is developing as the fourth wave 4 of (1), within which the wave a of 4 has ended, and the wave b of 4 is forming. If the assumption is correct, the price of the asset will fall within the wave c of 4 to the area of 541.43– 500.55. In this scenario, critical stop loss level is 694.77.
Main scenario
Short positions will become relevant below the level of 694.77 with the targets at 541.43– 500.55. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price above the level of 694.77 will let the price grow to the area of 750.00– 800.00.
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