Anyway, enough with the pep talk, let's get into the analysis.
What are we seeing? On the 2 hour time frame, we are able to get a good bird's eye view of the past couple of days. We can see that we have completed an impulsive wave to the upside, and we are about to start the wave c down to the 0.5 area. I think that we have finished the wave B, because we have bounced off of the of the wave A, which is a good target for the end of the wave B, and we have also completed all three waves for wave B, with the A and C matching almost exactly 1:1. The reason I am targeting the 0.5 retracement of the larger wave, is because it is the wave 4 low and will provide a strong support for us.
The stop loss I have set is the 11.4247 range.
Other confounding factors include a very bullishly diverging .( we can see that the wave 3 and 5 have had much higher highs on the price action, and much lower highs on the . In addition to this, the is looking QUITE , showing us two lower peaks, and a histogram that is getting higher highs on the downside.
All in all, I hope you can find some information and some profits from this trade.
Until next time, happy trading, and enjoy the rest of your week.