as per chart and wait to see if it finds support before long
Comment:
Minor wave 3 was extended so didn't expect wave 5 to extended but this could be the case looking at current price. odds favour a trade on break of the green channel to the other side of potential larger channel.
Comment:
invalidate set up now
Comment:
Price found support at 123.6 retracement of wave A which can indicate an expanded flat. Retracement target hits perfectly on a 50% retracement of the 5 wave structure. Will look for long entry then short at 50% level. will update if position taken....
Comment:
order placed, long on break off high as shown...
Comment:
long trade active