https://gyazo.com/959e4676bdfee4b7e86c4fedde8cab3f
^ So far everything is matching up just right. Now we wait and see if we 'C' actually turns out to be a wave 3 of 5, and the way we can tell is if it overextends the 1.618, usually that means were dealing with a wave 3 instead of a C.
If we reject before the 1.618, then I will start playing for some sort of combination with another 3 waves. First, price needs to get there, and then I will figure out whats next. I don't see a problem with price getting there as sellers are continuously losing interest in selling as volume shows, also, the RSI showing some strength right here than the past two times we visited this fib / price level as I marked below. We will see, but at this time I remain bullish.
^ So far everything is matching up just right. Now we wait and see if we 'C' actually turns out to be a wave 3 of 5, and the way we can tell is if it overextends the 1.618, usually that means were dealing with a wave 3 instead of a C.
If we reject before the 1.618, then I will start playing for some sort of combination with another 3 waves. First, price needs to get there, and then I will figure out whats next. I don't see a problem with price getting there as sellers are continuously losing interest in selling as volume shows, also, the RSI showing some strength right here than the past two times we visited this fib / price level as I marked below. We will see, but at this time I remain bullish.
Trade active:
Have not sold my position from 10,100 and 10,200 and waiting patiently for a wave C here. Volume tells me we are starting wave C, I have no reason to sell my position for a loss.
Comment:
Comment:
Wave C I have hitting 11,400.
Trade active:
I am taking a look at the lower timeframes, and I'm seeing that we might be setting up for wave 5 down now. Please look at notes on this chart: