The Elliott wave structure looks incomplete to the upside. Moreover, the entire retracement from the end of May low looks way too small in relation to the typical Fibonacci retracements. Last but not least, the channel support within the grey channel to the upside did its job and produced a rejection.
All in all, the trend continues most likely up unless today's low gets penetrated to the downside. The S/L of this idea has been set accordingly.
All in all, the trend continues most likely up unless today's low gets penetrated to the downside. The S/L of this idea has been set accordingly.
Trade closed: stop reached:
-0.43%