Looks like we may be entering into a corrective state of market structure. We have recently finished our second 5 wave impulse being that we are on a downtrend currently. We have been dealing with a bearish rally filled with good news from the media while there are still battles ongoing with rumors of war, inflation , supply chain issues etc. I could keep going but you get the point. Smart money is still being strategic about the manipulation so I wouldn't get too bullish . If this corrective wave is true, we would like to see a pullback into the B wave which should start a range for the new "ABC" correction before judging the next breakout. We have our stop loss set at the high of wave a to be safe and our target are at the 61%, 78%, and 100%, to account for either a "regular flat", "irregular flat", or a "running flat". Not advice of course! Let's see how this plays out going forward.
Thanks for the support! Remember, the better you is tomorrow but the current days needs enough attention to get you there!
Thanks for the support! Remember, the better you is tomorrow but the current days needs enough attention to get you there!