1.) Setup: Wave 4C / Reversion to trend line.
2.) Wave Count Wave 3 appears to have ended at the F(2.618x) extension, 4B is finding support at the F(0.86x) retracement, and the F(0.382x) retracement for Wave 4 will coincide with the DT line.
2.) Bullish MACDH making higher highs, higher lows. MACD gradient is flattening <0. Stochastic bullish cross <20 + Hook forming.
3.) No reversal candle yet on the daily, but hourly chart shows an ending triangle / falling wedge with reversal candles on the lower edge.
4.) Current Wave 4B3 should be ending based on Fib,wave count, and pattern. Stop Loss at the base of Wave 4A.
5.) Entry Signal: Break of the hourly chart falling wedge upper edge.
2.) Wave Count Wave 3 appears to have ended at the F(2.618x) extension, 4B is finding support at the F(0.86x) retracement, and the F(0.382x) retracement for Wave 4 will coincide with the DT line.
2.) Bullish MACDH making higher highs, higher lows. MACD gradient is flattening <0. Stochastic bullish cross <20 + Hook forming.
3.) No reversal candle yet on the daily, but hourly chart shows an ending triangle / falling wedge with reversal candles on the lower edge.
4.) Current Wave 4B3 should be ending based on Fib,wave count, and pattern. Stop Loss at the base of Wave 4A.
5.) Entry Signal: Break of the hourly chart falling wedge upper edge.