SWING LONG to 14k : Wait for 5-3-5 ABC correction
Since 12k rejection BTC consolidating in Zig Zag 5-3-5 pattern
Leg A: 12200 - 10600
Leg B: 10600 - 11500
Leg C: 11500 - TARGET (0.50 FIB of W1)
Leg C often extends or breaks Leg A --> 10500 or less
ABC Correction = W2 of Impulse
LONG end of Leg C --> Target: W3 of 5 wave impulse
Target = 1.618 FIB of W1 (9800 - 12200) --> 14000+
LONG Idea:
***Wait for Consolidation @ end of Leg C
Entry: 10200 - 10600
SL: 9800
T1: 12200 (W1 local top)
T2: 13800 (JUN 2019 Resistance)
Leg A: 12200 - 10600
Leg B: 10600 - 11500
Leg C: 11500 - TARGET (0.50 FIB of W1)
Leg C often extends or breaks Leg A --> 10500 or less
ABC Correction = W2 of Impulse
LONG end of Leg C --> Target: W3 of 5 wave impulse
Target = 1.618 FIB of W1 (9800 - 12200) --> 14000+
LONG Idea:
***Wait for Consolidation @ end of Leg C
Entry: 10200 - 10600
SL: 9800
T1: 12200 (W1 local top)
T2: 13800 (JUN 2019 Resistance)
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