Good day (and night :-)), All!
Major bullish green wave and supporting its formation minor yellow WW are currently taking shape and will most likely be formed within the next day.
Normally, I wouldn't trade such a wave alone, but with the support of lesser yellow one it's worth of giving it a shot.
I would like to underline that major green pattern can't (!) be considered to be a standard WW as I'm ignoring the spike which is forming minor yellow wave (point 2).
I chose such a form in order to keep the shape of green wave according to (more or less) classic pattern and as it also fits the minor WW.
The yellow wave is correct and can viewed as a valid formation completely on its own. The targets of both waves are located pretty close to each other.
However, I would expect the price to re-test previous resistance in 736x-737x area before reversal and if so, confirming (incorrect, but working) green major pattern.
Good luck and great trading!
Major bullish green wave and supporting its formation minor yellow WW are currently taking shape and will most likely be formed within the next day.
Normally, I wouldn't trade such a wave alone, but with the support of lesser yellow one it's worth of giving it a shot.
I would like to underline that major green pattern can't (!) be considered to be a standard WW as I'm ignoring the spike which is forming minor yellow wave (point 2).
I chose such a form in order to keep the shape of green wave according to (more or less) classic pattern and as it also fits the minor WW.
The yellow wave is correct and can viewed as a valid formation completely on its own. The targets of both waves are located pretty close to each other.
However, I would expect the price to re-test previous resistance in 736x-737x area before reversal and if so, confirming (incorrect, but working) green major pattern.
Good luck and great trading!
Order cancelled:
After yellow wave didn't manage to breakthrough line 2-4 and point V of green wave was surpassed without any visible resistance, this pattern is no more valid.
Even though the price is still in sweet zone of green WW, I wouldn't view this as possible long entry anymore as the price rebounced from line 3-5 and continued its movement to the South.
Even though the price is still in sweet zone of green WW, I wouldn't view this as possible long entry anymore as the price rebounced from line 3-5 and continued its movement to the South.