What you are seeing in the main chart is the close-up on the POTENTIAL that is very close to completion @1.15699. in my wave count, when this does complete, that may mark the end of the wave 3 of this wave (1). However, in order to complete the , prices will need to break through some resistance overhead. If and when it does and completes the , we may see a wave 4 retracement back down to retest the upper of the broken triangle. Which would be a brief retracement before starting up again in wave 5.
Overall, this wave (C) has a loooonnggg ways to go!
DAILY CHART - Moving Up With ROOM To Go!
MY TRADE PLAN
I will wait for the to complete and look to take some SHORTS to catch the wave 4 retracement. However, I will keep a close eye on PA to look for a chance to get LONG again for the long ride up!
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
List of my ACTIVE Trades: http://bit.ly/2JkoaR3active
Sign up to mailing list: http://bit.ly/2iNieEY
Facebook Group: https://www.facebook.com/efxselect