We closed our previous BSV trade in good profit once i saw the pattern develop a little more.
I now think that we were actually completing a larger B wave (rather then an A for the new trend up.) and we should see a final impulsive C wave down.
We should then be good to start the new series of waves up to break the ATH.
The two levels I expect the C wave to complete are boxed on the chart. It depends if we see a contracting, regular or expanding flat.
I will update accordingly.
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Looks like we have blasted through the higher zone, which means the lower zone has now become active.
No trades yet.
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Maybe I spoke to soon as we are seeing support in the zone now, however, I am still expecting a further drop, Ive set some buy orders at 235 and the rest at the top of my lower zone at 213.
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Looks like my first zone was correct. Any open trades close here and await further updates.
Looks about right. Standing by for higher highs after bouncing off the new bottom. looks like the short-term traders are being scared into securing last week's profits.