Formed excellent Corrective structure. bottomed at good price levels. One must try long with excellent money management.
Trade active
Inside 17$, BTFDDisclaimer : Trade your own plan.
Note
886 fib with bullish sharkNote
Ratios are still in favour for bullish shark. expecting to breach silver with strong impulse.Refer bullish shark pattern here.
neoharmonics.com/neoHarmonics/neoHarmonicsPatternsCheatSheetAndRatios.pdf
Note
Its still 3-3-5 expanding Flat, as mentioned in comment. Refer here.
elliottwave.net/educational/basictenets/basics3.htm
In quotes:
"In a rare variation on the 3-3-5 pattern, which we call a running flat, wave B terminates well beyond the beginning of wave A as in an expanded flat, but wave C fails to travel its full distance, falling short of the level at which wave A ended. There are hardly any examples of this type of correction in the price record"
Irrespective of that C breached A making expanding flat than Regular flat.
Note
Pre FOMC cliffhanger.Note
The extension of fall has almost violated all supports, hinges on last trend line.if this one breaks then 2016 low is in threat. However, I would be holding my buy and look to average at lower levels. do needful as per your money management. I would keep posting all detailed views on this posted ideas. Stay aware.
Note
is it the silver lining that we are seeking ?Note
Pattern FailedNote
expect 4 downside. Soons3.amazonaws.com/tradingview/snapshots/p/P9CPSrtU.png
Note
ok we did 4 now up again
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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.