Wave 5 (EW count linked below) looks like it was done in 3 waves rather than 5 (as you can see on my chart)
I could be wrong of course, and we have already bottomed, but it is likely that we get one last move down.
As I said yesterday initiating a long is not a bad idea in my opinion, but be aware of a possible drop.
Area I'm looking for is the same as it was (22-25k), and since we have already hit 25k, look more towards 22-23.5k
Right now we are rejecting the daily at 31k
Any questions?
Good luck traders
Remember not to break your rules
Habib
I could be wrong of course, and we have already bottomed, but it is likely that we get one last move down.
As I said yesterday initiating a long is not a bad idea in my opinion, but be aware of a possible drop.
Area I'm looking for is the same as it was (22-25k), and since we have already hit 25k, look more towards 22-23.5k
Right now we are rejecting the daily at 31k
Any questions?
Good luck traders
Remember not to break your rules
Habib
