The expectations of price growth within the framework of the corrective wave ii have been fully justified. In almost one hour, the price soared to the level of 61.8% on the Fibonacci grid, and the situation looks as if buyers are not intending to stop at this point.
It is likely that during today’s trading day, we will see a continuation of the price increase. Previously opened long positions can either be started to close or the protective stop loss can be moved closer to the current market value of this trading instrument.
In the future, there is a need to switch to a waiting mode. It is necessary to observe how the price behaves, and if it is aimed at updating the previously established maximum, then the considered wave labeling may turn out to be erroneous, and it will be necessary to adjust it.
Thus, in the current situation, it is not recommended to take any active trading actions.
Investment idea: flat.
Origin: FreshForex
