This is an update to my previous idea looking for UJ to retrace.
This is a short term outlook, but the results could have significant long term outlook.
I think the ABC is not quite done yet, wave C has only 3 waves down, and now a wave 4 up.
So lets see where the final leg (w5) of wave C ends up. That will be very telling of risk sentiment.
Background:
This adventure started with a search for the 'top' (i know, trading an expcted top is dangerous)
Once the retrace started, I had some fined tuned targets
From that last Idea, the price breached the upper two support zones.
So now I am thinking we have one more leg to go, and then we will know much more about the real risk sentiment
This is a short term outlook, but the results could have significant long term outlook.
I think the ABC is not quite done yet, wave C has only 3 waves down, and now a wave 4 up.
So lets see where the final leg (w5) of wave C ends up. That will be very telling of risk sentiment.
Background:
This adventure started with a search for the 'top' (i know, trading an expcted top is dangerous)
Once the retrace started, I had some fined tuned targets
From that last Idea, the price breached the upper two support zones.
So now I am thinking we have one more leg to go, and then we will know much more about the real risk sentiment
Comment:
still think UJ has one more leg down to go, but am starting to wonder
crossing above the red zone took some serious energy
Comment:
Well here we are, at that I think is the Bulls 'Last Stand'
Zoomed in on 5 min chat, we see an exact bounce off the top of zone.
Now I am waiting to see if it breaks thru the zone above and retraces, for an entry long
Zoomed in on 5 min chat, we see an exact bounce off the top of zone.
Now I am waiting to see if it breaks thru the zone above and retraces, for an entry long
Comment:
UJ looks like 112.168 next stop (pit stop?)
s3.amazonaws.com/tra...shots/m/mUdj8cVx.png
s3.amazonaws.com/tra...shots/m/mUdj8cVx.png
Comment:
UJ 111.50 range looks likely
Monthly S1 pivot is there, and the 4.236 extension of today's move along with other fib resonances nearby.
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