Wave picture of the chart H4:
The descending wave of January 5 forms the final part (C) in a larger wave structure. In the structure of the wave in recent months, a correction is being formed.
The wave pattern of the graph H1:
The wave scale from March 23 slightly exceeds the level of the hourly time frame. In recent weeks, the final part of the wave (C) is actively developing.
The wave pattern of the M15 chart:
In the rising wave of May 30, the first two parts (A-B) were formed.
Recommended trading strategy:
Sales are not recommended. For all trading styles of traders, it makes sense to track the signals for buying a tool. The potential of the upward movement can be very high.
Resistance zones:
- 84.30 / 84.80
- 85.90 / 86.40
Support zones:
- 83.00 / 82.50
Explanations to the figures: In a simplified wave analysis, waves consisting of 3 parts (A-B-C) are used. In the analysis, 3 main TFs participate, on each one the last incomplete wave is analyzed. Zones show the calculated areas with the greatest probability of a turn.
Arrows indicate the wave counting according to the technique used by the author. The solid background shows the generated structure, the dotted - the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need confirmation signals from your trading systems!
