We should be in wave (iv) of larger degree wave 3.
Wave 4 often retraces between 23.6% and 38.2% of the previous move,
but in this case a retracement to alone 23.6% does not give a good enough R/R ratio,
I will pass if that's the case.
! The count gets invalidated if price goes below 8.5935!
Target will be 8.7000 at first then we will look for higher prices if the setup remains valid.
Wait for price to come to the buy zone then go long.
Do so only if we see choppy price action with lots of overlap, that's an indication of a correction.
If there is a sharp move down, don't try catching the bottom, just cancel this trade.
Wave 4 often retraces between 23.6% and 38.2% of the previous move,
but in this case a retracement to alone 23.6% does not give a good enough R/R ratio,
I will pass if that's the case.
! The count gets invalidated if price goes below 8.5935!
Target will be 8.7000 at first then we will look for higher prices if the setup remains valid.
Wait for price to come to the buy zone then go long.
Do so only if we see choppy price action with lots of overlap, that's an indication of a correction.
If there is a sharp move down, don't try catching the bottom, just cancel this trade.
Note
Don't hesitate to like and share my ideas Also, Subscribe to my FREE Telegram Channel for MUCH more updates
Note
Notice also that wave 4s often play out as Triangle patterns, like this Note
We did not get the expected pullback but looks like we might see it very soon as price went into a Diagonal for wave v of (iii). Support is at previous wave iv. Note
Turned at the 23.6% Retracement level. No good R/R entry possible. I'm passing this one on the long side and wait for the turn before shorting it. 
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.