If that is the case, then I'll be looking for the completion of the to possibly mark the end of wave 4 and probably the beginning of the wave 5 down. If prices exceed the D point of the and tests the PRZ, as long as prices don't CLOSE beyond the X point of the , then we could see a form as well. If prices do exceed the X point and thereby invalidating the , I'll be looking for prices to reach the . of the wave 3 before finishing wave 4 and reversing back down.
MY TRADE PLAN
Still only watching and waiting. If prices had filled the , then I would've gone LONG to catch the wave (c) up. But with prices seemingly already having started its' way up, I'll wait for the completion of the and then look for an opportunity to get SHORT.
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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