So here I give you an updated count, as you can see we're are currently finding resistance at the 100% after our bounce off the 61.8%. What I'd be watching for is how deep the wave 2 will fall, as we may get an extended correction and retest the bottom trendline.
The question is now, where we'll bounce and begin our wave 3/5 up toward the big "(3)"
I'd be looking to enter in any of the green boxes at this point, for the most conservative entry would be the break of the top black trendline, as we find confluence with the obvious trendline breakout, and breaking past our wave 1 up as confirmation. Also remember to cross check with the volume as well to avoid getting bull trapped.
**REMEMBER THIS ISN'T FINANCIAL ADVICE, IM ONLY SHARING WHAT IM SEEING AT THIS POINT IN TIME**
The question is now, where we'll bounce and begin our wave 3/5 up toward the big "(3)"
I'd be looking to enter in any of the green boxes at this point, for the most conservative entry would be the break of the top black trendline, as we find confluence with the obvious trendline breakout, and breaking past our wave 1 up as confirmation. Also remember to cross check with the volume as well to avoid getting bull trapped.
**REMEMBER THIS ISN'T FINANCIAL ADVICE, IM ONLY SHARING WHAT IM SEEING AT THIS POINT IN TIME**
Comment:
Be watching for the reaction on the bottom black trendline, if we break through, be looking for a higher low to form. If we break through with conviction, ill have to change my count as we'll have for data to work with.
Comment:
REMEMBER: The break of the bottom black trendline, will mean we will be dropping down lower, and should not be in any positions as we don't know where the bottom is.