good evening,
looks like we've got one more leg to go in this five wave impulse.
at first glance it looked like a leading diagonal that completed this morning, but after further examination of the wave structure it looks like we've got one more higher high to be made before we see a larger dip into wave (2) of a higher degree.
this move up will confirm a bullish reversal in my eyes, at least in the short term, and i do think after that wave (2) dip we make our way back up to 50k at the bare minimum - possibly a lot higher.
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targeting 45k for the fifth wave to complete wave (1) of a higher degree.
💸
looks like we've got one more leg to go in this five wave impulse.
at first glance it looked like a leading diagonal that completed this morning, but after further examination of the wave structure it looks like we've got one more higher high to be made before we see a larger dip into wave (2) of a higher degree.
this move up will confirm a bullish reversal in my eyes, at least in the short term, and i do think after that wave (2) dip we make our way back up to 50k at the bare minimum - possibly a lot higher.
---
targeting 45k for the fifth wave to complete wave (1) of a higher degree.
💸
Comment:
stop just below 42k - this area shouldn't be breached - if it is, then we are likely playing out the original ld from last nights post
Trade active:
we might also be playing out an expanded flat - so if we move up in 3 waves , expect a brutal flush out of longs into the night of the full moon before we run up to 50k
Comment:
very nice overnight trap - ended up playing out the og leading diagonal fractal
still room for downside, but a local bottom is near
projection takes us closer to 50k
still room for downside, but a local bottom is near
projection takes us closer to 50k
