We are at the retrace of the short term Initial Swing in the Mid Term Impulsive wave. We should see the retrace ending soon and a continuation to the upside of the momentum wave that will last for a good part of 2018.
=> As you all now markets and trends unfolds in waves => A trend is a group of expansion waves with a bunch of retraces/pullbacks in between. The combination of all of them form the ebb and flow in any market. An expansion wave in a trend in general will always unfold in 2 swings The first swing in the wave is the initial part of the move while the second is the impulse/momentum part of the move