RCII trend is generally up going. Currently , RCII is making a correction for a rally which started from 7.22 up to 66.7.
So far, RCII is showing an impulse correction with wave 1, 2 ,3 and more than likely 4 of A completed and it is making wave 5 of A. What does it mean? A possible counter trend correction (Wave B ) is going to start soon from 46- 48 up to...
Great retest gap today. Looking for it to retest one more time while the short term EMA's catch up. 2R would be the 200 EMA, but lots of room above that if it can break above.
I will not personally be taking this trade unless I exit another position before this triggers.