Expecting wave five to start making progress in the channel. Engulfing candle at the bottom of the channel is a bullish signal that this could be the start of wave 3 of five which would be the strongest if count is correct....
short entry only on break of channel, target and stop as shown.
Watching the 30min for a potential right shoulder on small head and shoulder entry. (neck line break would be were the green line is.) Looking at nice zig zag A B C correction to the 61.8% fib which is a nice place to complete. Target to other side of channel with 100% extension. Still high risk to down side so taking very small position if I get set up....
price closing outside of channel with room to fall before major support. Expecting continuation to down side and will look to short bearish set ups on low time frames...
Look to short at point (e) is could offer a good entry point to the higher time frame break out of the daily corrective channel.....
Watching for a small 3 wave up to complete wave 5 of diagonal. will enter short with 2 positions as shown...
Price pushing out of this down channel with what looks like a wave 1 and 3. Wave 3 is less than 161.8% of wave 1 meaning it's a normal wave 3. This can indicate that we will see a extended wave 5. Another indicator is wave 4 correction being above 38.2% fib which is what's currently taking place...
correction could be over and providing sell set up...
Been watching this for a while and price is starting to get close to entry. A reversal at entry level could potentially be a wave 5 completion of this pattern which normally leads to sharp corrections.. keep an eye on it.
Looking to trade long on break to start a wave 5 in the channel. Then catch a short on a break of the channel if long trade plays out to complete C correction point.
Buying to ride a small long trade to potential reversal area...
Too bullish to try a short but im looking to see price correct to a point e before breaking out. If it does move lower past point e and I see a close below iv ( red line) then that would be a confirming indicator that this was a zig zag correction completing at the 50% level.
Watch for a 5 wave structure up to complete C of wave 2 correction. Then Sell if reversal develops... will update if position taken.