Wave 1/2 forms and 2 lands on 50% retracement , plotting out using major support and resistance we can plot out how the chart my form over the next couple of weeks.
Key Points
________________
- Wave 2 does not go past the start of Wave 1
- Wave 3 is the longest wave
- Wave 4 does not enter Wave 1 's area
- Wave 2 & 4 bounces off Fibonacci Retracement
Stop Hunters shot for stops a fade was placed above the major resistance , fade completed and exited at 100MA . Waiting for price to penetrate the 100MA before reentering the trade .
