OK So with a lack of a reversal and the sharp nature of this current wave it looks like this thing is carving out a zig zag in wave 2.
With a break of the magenta line we can assume this is a short term move back towards the highs in wave (c).
Go long at the break or wait for a pullback, this doesn't have much upside but at least its something of a clue as to what to expect.
I am staying away from this for now but it can be a good break out trade for those short term traders.
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With a break of the magenta line we can assume this is a short term move back towards the highs in wave (c).
Go long at the break or wait for a pullback, this doesn't have much upside but at least its something of a clue as to what to expect.
I am staying away from this for now but it can be a good break out trade for those short term traders.
Please LIKE and FOLLOW to get notification of updates and future posts.
