After a bullish run for wave 3 the price retraced to 0.618 fib level and rejected it forming wave 4. I'm expecting the price to push higher this coming week and form the final wave 5. Furthermore, the price is on a channel. I'll be buying until the price reaches the channel resistance level and then shorting it.
This is the beginning of an uptrend. In the daily timeframe, the first impulse is about the be completed. After completion, I will be shorting as the market will form ABC correction for wave 2 before another impulse movement for wave 3.
This is the beginning of an uptrend. In the daily timeframe, the first impulse is about the be completed. After completion, I will be shorting as the market will form ABC correction for wave 2 before another impulse movement for wave 3.