Black trendlines for pattern. Blue trendlines for areas that i want price to break above.
Bigger Picture below:
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Current: Wave (v) beginning, inside of Wave 3. Once the wave 3 is complete we will most likely look to consolidate. Beware. We have room to move up to and around the levels of 330 - 385. I will look to take profits within this area and re-enter later.
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Perfectly on the 61.8% for a move up after breaking out.
HOWEVER if it does not, then we will see a move similar to this. Something like this.
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Opportunity for great long position.
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5 wave up to complete Point D before the drop to complete Point E of Pattern.
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This smaller wedge looks like it's playing out longer. Could be a blast up from here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.