Wave C corrective or Wave 4 downward?
After hit my Take Profit previous sell position in the earlier analysis last week, im waiting for buying setup by an impulsive wave up. Unfortunately, price goes down deeper to complete 5 wave of wave 5 downside in the bigger Time Frame. Until Thursday, i already found a nice setup which is completely fullfill my criteria to buy. 1stly, there are divergence shown in awesome oscillator, secondly, 5 wave up formed that i can conclude as wave A corrective. On Friday, market already make 3 wave down that i can assume as wave B as a simple corrective and then bounce. To enter the market, we can find buy position in the bluebox area. And Stop loss i will put it 10 pips under invalidation level. I will take my profit around 1900 if the price break the top of wave A. However, this setup might fail if price break previous low of wave 5 before. And that will be the confirmation that wave A will be Wave 4 downside. I will update with u from time to time once market break each level that i indicate.
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