We currently have a 3 wave move up on the daily uptrend - looking to try for 5 wave structure. 3 likely possibilities. I am assuming a break of the daily high (purple horizontal line above) to complete a 5 wave in which case "blue" or "yellow" would be scenarios to watch for - i am biased to yellow and looking to short if my set up bears out. The third option is that my assumed wave 5 does not happen and this attempt fails to break the previous high and the down move goes - in which case I will hopefully pick that up on the lower time frame analysis - or - the short will go without me..
Happy trading guys! Give me a like if you find any value in analysis or this makes you look at structure or think in a new way!
Happy trading guys! Give me a like if you find any value in analysis or this makes you look at structure or think in a new way!
