- Trend = bearish
- Phase = 1
- After the impulsive bearish candle we see an ABC correction developing, having printed already the A and the B. At this moment we can see a bullish M. We will be watching the lower timeframe (4H) when the price retests the B level for any bullish reversal signs.
- We expect that price will complet the ABC correction but this could be a set-up for a bearish continuation.