I believe we have finished off wave e of 2, I would of liked to see price get up to upper Bollinger Band around 1.618% of wave a 1.37818 but we saw good resistance at .3770. We have made some LL and have had a 61.8% retracement of wave (1), look for more downward movement to follow and hopefully momentum to pick up to the downside. Above 1.3770 would nullify this count!
Comments
Phorex_Network
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Yes on 4 hour chart wave 2 can retrace 100% of wave 1. Also on the 4h it looks like it needs a wave C above the 61.8% mark. I am hoping that the lower pitchfork line will provide some resistance but if we continue upward a sell signal if price reaches upper Bollinger Band. I also want to see some momentum downward to signal we are in a larger wave 3.
Fomenka
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Hm.. betting it will go all the way up to your red resistance trendline at 1.384