Corrective Structure looks short

Price has broken out of the large correction
We now have a new correction on a lower timescale
It looks like a simple ABC but could become more complicated.
At the moment I see no reason for a BUY trade
If the price breaks down out of the current correction it is a SELL for me

Hope this helps
Steve

Kommentera:

On a 15 minute chart this could be a barrier triangle - this does not change my ananlysis