We are currently in the final C wave look for shorts between 113-127 fibs. Place ur stops above 127.
The C wave completes a bigger 3 wave structure before starting a larger final 5th wave down. People have been discussing the possibility that it is a triangle but the most recent price action may have confirmed it is not.
For now, observe. The downmove will be big. The hint that it is a flat is that the B wave ended near the start of A. Furthermore, the current price action is indicating a final 5 wave pattern. Especially the price rejection at the smaller "4th" is hinting on that.
The C wave completes a bigger 3 wave structure before starting a larger final 5th wave down. People have been discussing the possibility that it is a triangle but the most recent price action may have confirmed it is not.
For now, observe. The downmove will be big. The hint that it is a flat is that the B wave ended near the start of A. Furthermore, the current price action is indicating a final 5 wave pattern. Especially the price rejection at the smaller "4th" is hinting on that.
Note
There is a possibility that it might just pullback to the top of the "bigger" number 1. In that case you will still be able to take profit / put stops at BE. Note
Looked back at it, its breaking down. Will be interesting to see if we will bounce here to a new high. The possibility of a bounce to a new high is based on this assumption >> tradingview.com/x/xp5sxWLW/. We are just making a flat with the B-wave closing slightly above A. C wave invalid if we go below the 27 fib. >> I'm just hoping this will happen but without an invalidation of the triangle this probability is small. I was totally wrong on the Triangle being invalidated, it had to break above 0.78362 which was the price point here where I believed the triangle count began. So basically we are still in the 3-3-3-3-3.
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.
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.