if you try to catch this wxy/z down. be careful. it makes no sense to catch the current bounce levels.
the play we should be looking for:
618 play bounce
or a new impulse wave to break the neckline. anything in between is risky.
i wrote in one that we may see a abcde triangle very close to the trend line and its looking more and more like it with the 333 count. a break above and the trendline would be take us on a new wave up above the trendline. however, if we break down the alternate bearish count is very ugly.
now, i personally believe there is 1 more wave 5 to go. and that this correcton was just a subwave 3 correction. but anyways, who doesnt like projections? and this is on the conditions that:
1. no wave failure
2. we do break the neckline this round.
C wave is coming. we gonna test the neckline again 1 more time. C wave may be deep or shallow. hence i do not suggest to trade it. you dont want to be on the wrong side of the bulls. look for the opportunity to enter long after the full correcton
as i've said correcton was coming. we ended wave 5 in an ending diagonal 5th. with a mini ending diagonal 5th as you can see in the picture.
now, ABC may have formed already or not. but i do not suggest a trade here. in the previous chart i drew the possible scenarios and this was one of them. now the next thing to do is wait for wave 1. set a long order above...