Great Buy opportunity here, IF price action breaks out of the descending wedge. This confirms the initiation of a correction wave. Take profits and move stop loss up, leading to 61.8%. Confluence with diverging indicators, trade volume, patterns, key fib. levels, and E wave analysis. Wedge breakouts usually have volatile reversals and FOMC is coming up tomorrow. good luck may the force be with us!
Trade active
Trade closed: target reached:
First target reached. The fib. levels are a bit different because of the hook after the breakout, so 38.2% has just been reached. Am going to wait for a pull back to take advantage of the next wave up, next week.