FTM FANTOM EW COUNTFTM had great run up off the lows but has been sluggish and weak since. Perhaps can be viewed as consolidating/accumulation
AM favoring 'the top' is close but also considering another leg higher might be in play after current pullback.
We will have to wait and see how the current pullback plays out and see how markets behave over next few days/weeks.
Opportunity to go long may be a favorable trade as I personally do favor another leg higher; a stop loss at previous low is ideal area to consider for managing risk.
Will update the wave counts as candles print. For now, nothing major.
Current sequence appears to be impulsive sequence of wave i-v to complete the corrective ABC as a wave ((4)).
We shall see how this plays out.
As always trade safe. If you would like to leave comments or share, please feel free.
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