Looking at the price movement of the latest bullish move, we can see that the movement can be divided into waves from the Elliot wave theory. We can see that the bullish move has made a five wave structure that follows the Elliot wave rules. Now the price has made a significant bearish move, which can be identified as an A leg in an ABC corrective structure. Waiting for the formation of the B leg and then another steep bearish move in the form of the C leg.
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Feel free to grab a copy of our Free Weekly Market Outlook here:
[url=mailchi.mp/bc78576d6f40/freeweeklymarketoutlook ]mailchi.mp/bc78576d6f40/freeweeklymarketoutlook
For more content follow us on Instagram and Facebook:
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We wish you good luck with your trading!
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