Foreign T um not really much uh change since my Last video Um this can very well still be the fifth Wave to the downside which is unfolding In five waves after the Wave 4 was Completed as an Elliott wave triangle in An ABCDE pattern After that happens you know after such a Completion of such a triangle You would normally expect a breakout to The opposite side of the wave e of the Triangle yeah and it would be down in This case and a very good indication That the breakout is actually happening Would obviously be a Breakout Below the ascending trend line of the Triangle Um Then here below 100 below the wave d low And then in the next step we need to Follow through below 95 dollars Um I did say before it doesn't need a New low it would be ideal yeah the lower Level wave count would suggest it but Let's be honest it wouldn't be the first Time that using the edit wave method you Think there might be one more leg down And it didn't happen you know we always Need to be aware as soon as we reach These broader support areas Um the price can turn around that that Is just fact that's just what happens Sometimes and um
That's why these areas are defined and Not necessarily a specific price points Because in every Market you have a Degree of uncertainty and we want to Recognize that we need to recognize that And we need to be aware that Um at any point in time you know this Thing could turn around I don't think It's ready yet But Be ready yourself okay Um at the moment this could very well Just be this five wave move down and We've done the wave one to the downside Now just the wave two to the upside There's nothing wrong with retesting the Resistance level up here at around 123 Dollars that will be resistance Um but it should avoid to go above for The wave e High it should avoid to go Above 124.50 Yeah Um my view at the moment is that this is Just a wave 2 to the upside which would Follow be followed by a wave three but We always need to understand the key Pivot and decision point and here in Validation point for this yellow wave Count to the downside would be a break Of the 124 50 level if we do that then Um yeah we we don't Um we we haven't seen yet an Impulse to The downside right at the moment the Target for the third wave would be
Around 95 dollars if we go by the Standard Fibonacci extension levels the 1.618 extension and then there will be The way five down as well and we could Very well reach here the 80 level down There it's really only that below 80 Only then Grant would become bearish Um at least the risk will increase that We turn bearish Um and as long as we hold above 80 cents No sorry eighty dollars we can focus on Higher that is where we are with Quant Um key resistance levels on the To the upside here are as I said that 120 let me just open it again 124.50 level that we've got 126 dollars And then 135. And each of these breaking each of these Levels will increase the probability That the low of Quant has already been Made but that's really everything I can Tell you about command at the moment 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