Well, the abcde is playing out. Wave e is very tricky because it can fall short of the trendline, but can also overshoot the trendline. The trade would be to wait for the turn and go long. How long? If you take the lenght of wave 1 and place it in the channel you see 2 targets:4955 where the upward channel of wave 1 and 3 ended, and 5197 where wave 5 would equal wave 1. In the bigger picture it would complete a 3:3:5 correction and a wave (2) of bigger degree. From there it is down again, but in time this move should take a couple of weeks.
No comments:
Post a Comment