Suspected wave 3
Wave 1 to 2 - retracement of 0.618
Wave 3 - reaching 1.618 to 2.168 range (under monitoring); wait for Wave 4 entry.
3 EMA crossover (22, 55, 100) = positive
E.W invalid if Wave 4 retrace > wave 1
RSI entering > 70 (potential range RSI - 70 to 90; high risk - past history shows up to 90 for AEM; either wave 3 continue or wave 4 in progress)
P8Z has been in the falling wedge channel for the past months on weekly chart. Expected for break out of falling wedge channel. Will be great bullish momentum if it happens.
- RSI appears to be bottom out in oversold region
- PPO appears positive crossover soon
Keep a good watch for opportunity.
TA - invalidated if trend is broken with FIb zone.
This is not a financial advise. Please trade at your own risk.
Note: It will be good to always understand risk involve in trading. Always trade with stop Loss in place.