Weekly:
Looking at weekly Ichimoku Chart, We can notice that trend has entered the Cloud (Kumo) which tells us that we are going into a correction wave that makes me expect Zigzag, Flat, or combinations before trend leaves the cloud into another major trend. With a wide cloud width that informs a high volatility are possible in near future.
We notice a double bottom at ABC ZigZag correction which indicate an upward movement on our way.
4 Hour:
With a trend just above kumo and below R1 gives a short drop (Pullback). We see here also a double bottom with a higher low RSI that indicate a strength increasing in trend. I will trade once Trend breaks R1 level.
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1 Hour:
Trend has reached top line channel. I will set my plan here based on Elliott waves targeting wave B at 0.5 Fib before I go long for a breakout above R1.
Strategy: Elliott wave
Focus: ZigZag, Flat, Corrections
Signal I: Once pattern complete wave b in 1H chart, I will buy as shown (Blue arrow)
Signal II: once trend breaks Kumo in 4H chart.
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