as i've said correcton was coming. we ended wave 5 in an ending diagonal 5th. with a mini ending diagonal 5th as you can see in the picture.
now, ABC may have formed already or not. but i do not suggest a trade here. in the previous chart i drew the possible scenarios and this was one of them. now the next thing to do is wait for wave 1. set a long order above it. wave 3 will hit your target and make a decisive break on the downtrend line.
now, ABC may have formed already or not. but i do not suggest a trade here. in the previous chart i drew the possible scenarios and this was one of them. now the next thing to do is wait for wave 1. set a long order above it. wave 3 will hit your target and make a decisive break on the downtrend line.
Comment:
also. i'd like to mention that i think what we had here, was only a wave 4 correction. due to the termination point of 1.6 fib. lets see how deep this correction goes. a shallow one may imply there is 1 more wave up to go past the trendline.
missed out the last scenario