The Trust Layer for Market Analysts

The analysis identifies a clear five-wave move down on the RUNE/USD chart, interpreting the larger structure as an ABC correction pattern. The analyst specifies a confirmation line at $1.17 as a key level to watch for a potential upside reversal, but notes the current chart as weak with no signs of reversal. The analyst suggests that whenever there is an ABC structure the A and C waves tend to have the same or similar length and the 100% extension has not been reached so the 51.4 cent level will be the next key level to watch, and they think there is a good chance that we get there. The microstructures are unclear due to the 10th of October low. The analysis suggests it is best to assume lower until a five-wave move up and a three-wave move down is observed. The first reversal confirmation would be a break above $1.17 and then a higher low.