Hi Traders! Societe General triple cycle provides buy opportunity for us. A detailed analysis of this setup is as follows:
Societe General H4 Chart:
On the H4 chart the price has created triple wave up and it looks like this triple cycle has completed itself now. We have a bearish divergence that has formed which we may consider as a confirmation for the bearish momentum, this bearish momentum is expected to be the correction. We may now expect the price to move lower until it reaches the zone of 38.2% – 50% fibo retrace levels of this entire triple cycle. This correction might happen in the form of double wave down, so once the price reaches this zone look for the breakout of the most recent downtrend line and then join the bulls.
Note: If you are not sure about how to trade this setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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