The above chart shows the 12hr scope for what I see in 1INCH.
We retested the overall channel and started an impulse wave in which I believe we are now in the correction of.
I then saw what, to me, looked like a 5 wave correction that should have lead to a 3 or 5 wave B wave. As shown in the chart below in the 1 hr scale
But it looked like the mid line of the channel was resistance and it may have lead to a failed wave to continue the 5th leg of the correction further.
This is just what I see in the chart and I am currently not bullish or bearish yet.
But I would like to see more bullish signals in the larger time frames when the price hits these green boxes.
**Disclaimer - not financial advice, please trade with caution and DYOR. I am still fairly new to this and would really like any constructive feed back on my analysis.
Any insight is very much appreciated.
We retested the overall channel and started an impulse wave in which I believe we are now in the correction of.
I then saw what, to me, looked like a 5 wave correction that should have lead to a 3 or 5 wave B wave. As shown in the chart below in the 1 hr scale
But it looked like the mid line of the channel was resistance and it may have lead to a failed wave to continue the 5th leg of the correction further.
This is just what I see in the chart and I am currently not bullish or bearish yet.
But I would like to see more bullish signals in the larger time frames when the price hits these green boxes.
**Disclaimer - not financial advice, please trade with caution and DYOR. I am still fairly new to this and would really like any constructive feed back on my analysis.
Any insight is very much appreciated.