downside should be limited,
shouldnt get anything major over the low volume weekends, alts could get nice rallies. 0.236 - 0.382 are GREAT areas to bank some profits (ideally wanna derisk or close by premarket on Monday), or let it run.
a 5 wave move down is clearly visible, however an ABC count is preferred here as it hit the targets and stayed just above the 1.618.
its BULLFLAGS forming market wide, as long as range holds.
These setups are scalps, short term. Yes you can accumulate or trade spot if you'd like, not looking to hold a LT position at these areas, not without a clear breakout thats been retested (we can just buy the daily doji on the close)
LFG!!
shouldnt get anything major over the low volume weekends, alts could get nice rallies. 0.236 - 0.382 are GREAT areas to bank some profits (ideally wanna derisk or close by premarket on Monday), or let it run.
a 5 wave move down is clearly visible, however an ABC count is preferred here as it hit the targets and stayed just above the 1.618.
its BULLFLAGS forming market wide, as long as range holds.
These setups are scalps, short term. Yes you can accumulate or trade spot if you'd like, not looking to hold a LT position at these areas, not without a clear breakout thats been retested (we can just buy the daily doji on the close)
LFG!!
Comment:
Invalidated the ABC by exceeding below 1.618.
So now we favor a largre correction as a i-v wave structure (the equivalent to a i-v impulse in bull market).
Should get some decent bounces in between
So now we favor a largre correction as a i-v wave structure (the equivalent to a i-v impulse in bull market).
Should get some decent bounces in between
Comment:
Should be able to complete sequence like this.
At the very least, a nice bounce from this target zone
At the very least, a nice bounce from this target zone
move down made another low, favoring ABC, stayed within 1.618 extension.