SRLevels News

foreign [Music] I'm currently looking at this chart as a one two setup as already said before um primary expectation would be that we moved up in five waves of this um December low and peaked here around what is it 0.85 cents yeah um then we came down in an a wave I count that as a five wave move basically a diagonal pattern we moved up in a nice three wave move in a b wave and we're now coming down in a c wave that's obviously a bullish scenario invalidation point will be down here at 0.0026 um that can absolutely happen yeah um in my view is the downtrend isn't over yet yeah the correction isn't over yet and also here the local downtrend isn't so I think the mindset has to be everywhere at the moment that we go down lower until we see an impulsive reversal now note that here the next low could be the last one because I count of this B wave top a wave one down a wave two up away three down and I think in the last video we said it would be quite likely for price to hit the 38.2 flip level that's the ideal Target for a fourth wave now you can see what happened we touched it so that's at 0.0054 um yeah let's see if we if we go a little higher we can certainly I mean it's really only above if we get a sustained break a sustained break above the 50 retracement that I don't count this anymore as a way for it would just be out of proportion but the fourth wave can certainly reach the 50 retracement maybe even slightly overshoot as long as it gets rejected even in the end um but it shouldn't break and sustain above it so idea is as long as we stay below 0.00576 that we go down lower make one more low ideally into this support region which is between 0.00367 and 0.00386 yeah below 0.00367 I think we are going to face invalidation of the bullish scenario but for now um we can focus on the bullish count there is an alternative count which would um which which which would see this as a w x y structure and then we would have bottomed already but it is currently not a confident low here yeah this doesn't give us any indication we've bottomed it looks a bit like a Bear Flag actually a crystal clear Bear Flag it um is below resistance yeah and there's no impulse to the upside so the idea has to be at the moment that we will get another load now that view will change above 0.00576 okay that's my update about jasme I hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out the channel membership thanks a lot for watching bye [Music]