i am looking sell setup in the third swing of corrective pattern in lower time frames.
waiting for correction and buy on third , seven or eleven swing of corrective structure in the lower time frames.
initial three wave structure form a w and x and i dont think that the price will go too far it may at-least extend to the price 101.92 (fib ext 1.236) breakout below the trend-line will be a the start of next impulsive wave.
this triangle will soon break either to the up side or to the downside. but i think weakness in momentum break this pattern to the down side very soon and there is good selling opportunity on the break.
in 15 min time frame i am expecting a 7 swing structure, now the price is the 5th swing and completion a wave and i am expecting pullback to b wave before it extend to 7th swing c wave and the completion this cycle . then is a good sell opportunity around (1.1012-1.1022).
there is a possibility of one more wave to the up side
a triple three correction with in the corrective pattern between w and x which is about to an end.
a head and shoulder pattern use in classical technical analysis for reversal is this a perfect example of h and s .
this may be the end of running flat and end x wave now it will sailing towards y wave.