FIFTH WAVE IN THE TRIANGLE OR A BREAKOUT?????

29 giu 2020

while price is trading above previous week's weekly low, it's currently trading at a previous support levels making it a significant support zone. price is also trading in a triangle completing four waves. if price doesn't break the current strong support zone, we are mostly likely to see price complete the fifth wave in the triangle pending a BREAKOUT. but if price breaks the current support zone, we might see price continuing it's previous trend to the downside where price is most likely to reach 0.66571 price level. i personally have my bias towards a BUY.

legends
PWH - previous week high
PWL - previous week low