Wave ((iii)) ended, price is now going lower, keep an eye on the Fib retracement levels for the end of wave ((iv)).
This wave ((iv)) seems to be a zigzag, where wave (a) finished and wave (b) should finish very soon before making a wave C lower, after wich we can go long again.
Trade Setup :
Entry : Pending @ 0.9418 (0.382 Retracement)
Stop : 0.9364 (wave ((i)) high)
Target : 0.9500 to 0.9700
This wave ((iv)) seems to be a zigzag, where wave (a) finished and wave (b) should finish very soon before making a wave C lower, after wich we can go long again.
Trade Setup :
Entry : Pending @ 0.9418 (0.382 Retracement)
Stop : 0.9364 (wave ((i)) high)
Target : 0.9500 to 0.9700
Order cancelled
We either lost our entry point because price did not retrace enough - or - this alternate count is in place meaning the correction will come now.
I'm leaning more to the alt count because wave ((1)) to ((2)) 1.618Fib Extension got hit now.
So now, wait again for the 0.382 Retracement
Pending Entry : @ .9468
Note
Stop loss still the sameTarget : .9670 to .9800
Note
Here s the updated count.Wait for price to reach at least the 0.382 Retracement before entering long positions.
Related publications
Disclaimer
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.
Related publications
Disclaimer
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.