Long-term support Trendline was breached & re-tested. We are currently managing several
Long-trades we bought at the first drop-leg down...always buy Wave-A down and manage it with stops.
A NEW lower low may / or may not happen, I would guess the probability of a NEW-LOW may be abut 60% to 40% it goes up from here.
Wave-4 corrections can be messy so we could also see a triangle structure form.
Long-trades we bought at the first drop-leg down...always buy Wave-A down and manage it with stops.
A NEW lower low may / or may not happen, I would guess the probability of a NEW-LOW may be abut 60% to 40% it goes up from here.
Wave-4 corrections can be messy so we could also see a triangle structure form.
Note
Here is a slightly less BULLLISH alterative count, which correlates nicely with the Fibonacci sequence starting from #4865 to the covid drop
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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.