Truncated 5th wave at the $11,800 resistance?
I've been watching the $11,800 level for a few days now as it's a VERY strong resistance point. I'm now seeing a rising wedge that, to me, indicates a truncated 5th wave and a retraction between $10,500-$10,800 before we bounce for the 5th wave up. Short term - I'm bearish and planning on shorting down to $10,800 then I'll flip to a long position to $12,800-$13,300 range.
Let me know if you're seeing something different, as with usual TA is open to interpretation.
Let me know if you're seeing something different, as with usual TA is open to interpretation.
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