Well, one thing is for sure....this was a strong move up and out of that downtrend. This move certainly looks impulsive. If this is an impulse wave, then it follows that this has to be a wave (1) or (a). In any case, I do count a 5-wave move. And of course, following any completed 5-wave impulse wave comes a corrective wave,
So being that this impulse seems to be a completed, I am expecting a corrective wave back down. But before that can happen, this is what I am looking for: an . ED's are very common way for strong impulse waves to end. They occur often in wave 5's. And that is what I am seeing this impulse wave being in: a wave 5.
If/when this potential ED is completed, that would be a good place to take a SELL. Just be aware that there is nothing that says that there MUST be a completed ED for the reversal to occur.
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