We can count 5 waves up now for potential wave 3.
Following soon will be a wave 4 consolidation followed by a continuation higher as wave 5.
Because wave 2 was a ZigZag, we can assume this wave 4 to be a Flat or a triangle making just a shallow retracement of wave 3.
So, I recommend taking at least partial profits.
Because waves 4 are so tricky it's not a good idea to try and short them, so, better keep your cash on the side for when better opportunities arise.
! If price starts to fall sharply and goes below 2.38, the count gets negated.
Previous post :
Following soon will be a wave 4 consolidation followed by a continuation higher as wave 5.
Because wave 2 was a ZigZag, we can assume this wave 4 to be a Flat or a triangle making just a shallow retracement of wave 3.
So, I recommend taking at least partial profits.
Because waves 4 are so tricky it's not a good idea to try and short them, so, better keep your cash on the side for when better opportunities arise.
! If price starts to fall sharply and goes below 2.38, the count gets negated.
Previous post :
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Note
Now correctig for wave 4. Best to just stay out of this for now.
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
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.