The market close on Friday with a big uncertainty. we observed a smearing move up. I still don't know if it is an impulsive wave or a corrective because the waves have not unfold completely. I think it is gonna be an impulsive wave as the characteristic shows. in that case we will have a WXYXZ correction and probably this will be the last correction. we should know by next week the direction of the market I will try to keep you update under this post as real-time as possible
Trade closed: stop reached
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we hit the invalidation level. so the downtrend scenario is invalidated
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this could be the potential wave count, nothing is confirmed yet
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!5 min chart update
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5min char update the current down trend can be an ACB or 12345. I dont know yet but the price will probably move up after that
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It is confirmed that it was a 5 way pattern
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are we going for wave E if a triangle ?
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and this is the 5 min chart I think we will get close tot he trend line
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wave 5 of smaller degree is complete we just need 2 more waves
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we have 2 scenarios here : 1--- the bearish one , ending diagonal
2- the uptrend one I will stay with the bearish and if it invalidates I will switch to bullish one
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the 3rd wave is confirmed , we are wave 4 I moved the invalidation level
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we have 2 possibilities 1- we finished teh abc correction for wave 4 and we will have an up trend 2- we are on the third way down
both are valid and I have labelled both scenarios on the chart
for now I consider the down trend as we have broke the triangle trend line but It needs to get confirmed
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confirmed. it looks like the end of the correction, we are on bullish count now
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we have another wave for uptrend and that will be it
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possible target level and senario
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1min wave count
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wait for triangle confirmation
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I am short now
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I cant confirm the down trend until it breaks the confirmation level. so far it was not successful but I am still so bearish
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this Sh*t is killing me ... when will you break ??