IF, and it's a BIG IF, this pattern plays out as the flat
I've laid out, to the 4th wave of one lesser degree,
the sell point should be around 101.50/80. That puts it
in the middle of lots and lots of technical possibilities.
Should we get 3 waves in B I'll be looking to buy for the
trip into the .50% retracement area.
BUT, the big reason for this trade is selling the
5 waves of C for what could be a 3-3-5 flat wave correction
of the 5 larger waves down.
Should this transpire target 1 is the end of wave 5
and target 2 is support on the 4 hr chart
Hopefully stops will become more precise
as price completes the pattern and the candlesticks
may shed some light as well.
I've laid out, to the 4th wave of one lesser degree,
the sell point should be around 101.50/80. That puts it
in the middle of lots and lots of technical possibilities.
Should we get 3 waves in B I'll be looking to buy for the
trip into the .50% retracement area.
BUT, the big reason for this trade is selling the
5 waves of C for what could be a 3-3-5 flat wave correction
of the 5 larger waves down.
Should this transpire target 1 is the end of wave 5
and target 2 is support on the 4 hr chart
Hopefully stops will become more precise
as price completes the pattern and the candlesticks
may shed some light as well.