Many of traders may entry long today because of rising price with volume support and breaking down trend line, but if we take a look in time frame week using Elliott wave pattern, it is forming corrective wave IV of next degree wave I. Waiting a bit longer until the next degree wave III come will be better position. please consider before making decison thanks...
The confirmation of wave V is when the price break last highest price (4.5) with momentum indicator support, unless it will trabsform to complex-corrective wave IV. The conservative target price should be 61.8% or 100%(common) fibonacci retracement of wave I; according to rule of Elliott wave that "wave III always not be the shortest wave" please consider...