Whether the first wave from the low is over or not, the second wave is coming soon and targeting one is always a throw of the die. A second wave can go anywhere from stopping in a preceding 4th to fully retrace the preceding movement. So here are the levels to watch :
Three election outcomes could scrap all this wishful thinking : a Trump win, a democratic sweep, no clear winner. Anything else, we'll have a 2nd wave, followed by a third.
Happy trading
- 2123 to 2131 (preceding 4th)
- 2115
- 2106 (.618 retracement)
- 2083 (full retrace)
Three election outcomes could scrap all this wishful thinking : a Trump win, a democratic sweep, no clear winner. Anything else, we'll have a 2nd wave, followed by a third.
Happy trading
Comment:
Is the 2nd wave over ?
Comment:
In terms of level, it achieved the minimum requirement, but the 1st wave lasted about 2 days and a half. So a mere 4 hours seems a little short for the completion of a complete counter move.
Trade closed: target reached