The rise from 1.4139 is impulsive (5 waves). This implies the trend is up. However, after 5 waves a correction is due. Ideal entry zone is between the 38.2% and 61.8% levels. Areas in blue are real support. Wave count invalidation is all the way down at 1.4139. This analysis is being made to supplement the Technician's 4th Trade and provide perspective.
Hi anandinhio. The IHS is very valid and I am looking at something very similar. I do not like the leading-D post wave II. The fifth wave is slightly truncated and I only trade patterns that are perfect. This doesn't mean it won't go up. I prefer your alt, where we are working in wave B of II. Good luck.