I can see stong support below 1.5700, at around 1.56800-1.56700
Combination of Fibo and S/R
However I wouldn't expect a stong bounce, but rather consolidation in this area.
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DislikedThis is a counter trend pull back, and as such it is riskier than a trade in the direction of the larger trend...Ignored
Disliked
The plan is to get in with a stop below the low... which as a 5th wave low should prove very strong....Ignored
Dislikedyes...
I am hunting this corrective move as well, though I am hesitating, I am thinking this could be too early now.Ignored
DislikedPrice action should have made five clean waves down with no overlap if we were in wave c of an ABC correction.
...Ignored
DislikedDo you think the triangle could be wave b of an a-b-c, or do you think all of wave 4 is a triangle?Ignored
DislikedI'll post a chart in a little while...
Chart will make it more clear... let me post one in a few...Ignored