So far price looks like it is dropping as a W X Y double correction. I have labelled waves W X and a of y and b of y.
I can see us coming towards the end of wave c of y. I have labelled waves 1,2 and 3 of c with waves 4 and 5 to come.
I am looking for the correction to stop in the 2.3750 - 2.3660 area. The 1.27 extension of w is at 2.37161 and the 2.618 extension of a is at 2.37114.
I am looking to add to my longs (currently open from 2.3380) in the 2.37 area and am looking for an initial target of 2.4180