Price completing the impulse down, clear 5 waves.
The trick is that the prior 5-waves advance to the upside is a wave C of a running flat, by mistake was labeled by some good analysts as the wave 1 (and a reversal).
I expect an attempt to reverse from the median line of the corrective price channel, need to break the wave 4 in the downward impulse and I will buy at the retracement, with a break-even stop later.
The move down - as a risk - may be just the first wave in a larger wave C, so mind your stops.
The trick is that the prior 5-waves advance to the upside is a wave C of a running flat, by mistake was labeled by some good analysts as the wave 1 (and a reversal).
I expect an attempt to reverse from the median line of the corrective price channel, need to break the wave 4 in the downward impulse and I will buy at the retracement, with a break-even stop later.
The move down - as a risk - may be just the first wave in a larger wave C, so mind your stops.