In this kind of PA, it's pretty typical for prices to retest the recent high before actually starting it's move down. So that is what I'm anticipating here by drawing in this . it's really just a projection exercise that I do to plan my future trades. Maybe totally useless. But if it's correct, then it would make some sense as to how things might shake out. In this case, the would be complete somewhere around the TP1 of the larger . At that point, I would expect prices to reverse and resume the larger uptrend.
Take what you will from this post. :Like I said, could be just a TOTALLY USELESS post! ;-P
Sign up to mailing list: http://bit.ly/2iNieEY
Facebook Group: https://www.facebook.com/efxselect