While the start of Wave 5 has been established, a correction triangle pattern has emerged. This is a repeat of the Wave 2 correction pattern. There is not a lot of room left in this pattern for the final 5th leg, so expect it to be flat until the end of tonight preceding the breakout.
You can follow me @ExsiliumI for updates to this analysis as they happen.
You can follow me @ExsiliumI for updates to this analysis as they happen.
Note
Bullish Confirmation Triangle has broke to the upside as expected in the time-frame predicted (on Twitter @ ExsiliumI). I see some analysis by others looking at 1.07-1.08 as a target. I dont agree as that level was only resistance once, not confirmed multiple times like the 1.20-1.23 level as noted in my previous analysis.Note
Subwave 3 of this wave 5 target could be 1.01. If your frisky you could try to scalp wave 4 there.
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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.