Expecting a flat and abc wave 4 before we shoot from 8600 upward
Updated
I will show the details of the flat in the next idea. We might break 10k if 8600 holds and ends wave 4.
Note
Trade active
Became impatient and bought from here at 8750Order cancelled
Trade closed manually once 8888 failed to hold.Trade active
Too late to catch the upward channel and the bears outweigh the bulls. This might be the end of wave 4 and wave 5 should start now.SELL now at 9140.
TP1 8000
TP2 7750
NEXT.
BUY 7700
Note
SELL now at 9140.TP1 8700
TP2 8000
TP3 7750
NEXT.
BUY 7700
Note
C leg of a corrective wave does this once you had a simple A leg. and it will fool traders to believe the bull has started. We just had our leg 4 of C extending as abc to 9300 (which is the the end of the lower iv of leg 3). Wave 5 of C will go down in five waves and may lower below A to 38.2 of the major previous uptrend around 7750.
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