after completing a five wave pattern, we are expecting price to retrace to at least %50 of the five wave pattern.so after creating wave A we waited for price to retrace to .618 of the fibbonacci and thats the reason we had our entry there.. trade with caution.
notice on the chart. price has completed the 5 impulsive move and is making a zigzag of ABC.price is currently on a zigzag formation of an ABC chart pattern . Wave A, and be are already in place, we wait to see price end wave C at the 50% retracement level of the trend to continue upward move.. thank you and trade cautiously.
