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LorenzoMachiavelli
Jun 15, 2018 10:27 AM

Qantas Overview : Potential Irregular Flat  Short

QANTAS AIRWAYS LIMITEDASX

Description

Price is currently just above the impulse high meaning this may be a potential irregular flat in the making, the impulse itself reached the 161.8% extension so this could indicate a correction will be coming into the trend. The formation of an irregular flat is when the B Wave extends over the impulse high (If Uptrend) then reverses to either touch the A Wave Low or move below, it then generally follows with another impulse to the upside. I'm currently short at the moment, but to be safe wait for the B wave trend line to break then wait for a flag/correction to form (as shown below).

Thanks, Lorenzo

Comment

Look for a correction after the trend line breaks.
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