A possible Ending Diagonal Wave 5 is about to be finished here. Overthrow in fifth wave is very common and this one occured into Fibo Cluster ( quite wilde) area of orange rectangle.
Only a new high above 1.3642 would put the 1.3710 previous swing high level into exposure and possible breakout.
Please notice that momentum indicator AO oscillator shows Bearish Divergence on H4 TF and this is supporting the end of the cycle view. To further confirm this view price must break out to the downside from navt triangle area ( Ending Diagonal). Grey rectangle zone is the first one that is likley to provide the support.


About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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