Held .5 On the Fib retracement. Currently on the bounce up but met resistance at Fib .618 value on the dot. Likely to see trendline bounces to $4.11 where we may see progression to the next wave.
Bull case could be made to hold 1.618 but I like to take profits with the banks, so I will begin selling around 4.15.
Bull case could be made to hold 1.618 but I like to take profits with the banks, so I will begin selling around 4.15.
Trade closed: target reached:
Sold my position t 4.2 slightly higher then the projected 4.15. Could see this rally up to 4.5 but be careful holding/buying any higher
Comment:
Seems like many people are still in this trade. The next target is 5.39 on the fifth impulse. This could be the last leg of the 1st Wave before the wave 2 consolidation.