Would you consider this a rising wedge with RSI divergence indicating a bearish move in the very near future ?
itshosyn
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@bennowilson91, Yes I see your point but RSI is near to go through the 70 and we have better reasons like breaking the Resistance line Or Double Bottom Or we are with Trend and (only time shows but) if my EW counting is right we are having a good third wave Or else we are going for the first wave
Any particular reasons you lean towards this count for your wave 1 and 2 and not a flat? Thanks for sharing.
itshosyn
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@NewWave_Traders, if price go to the 1.618 of fibo of first wave or more it can be wave three but you are also right my friend , I`m aslo ready to count it as a Flat or a ZigZag (but main reason is because wave 2 reatrace to 99 % of first wave not 100% for a flat ) but as I say we ready to count it like that too