So far, this wave 4 has lived up to its' reputation as difficult to predict. But now that we may be coming to the end of this correction (HOPEFULLY!), the pattern is becoming more clear. It appears to be a double resulting in a complex WXY wave. Here's my updated wave count:
MY TRADE PLAN
I'll be just watching and waiting for that to finish and see if I an mark that as an end to the wave (b) and the beginning of wave (c) back up into the .618 retrace of the larger wave 3. At that point, if prices cannot break through the .618, then a may form and that may be the beginning of the next large wave down in a wave 5. I'll be watching......
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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