what you see there are two 5 waves
the first one went down, and now we're going up again
all the confirmations are in that there was a 5 wave down and that it has bottomed, so we're now in the next 5 wave ... upwards
obviously we're in leg 1 of the new upwards 5 wave
so, the next question now is ... when will leg 1 peak and leg 2 start?
we might be there, right now ... or not ... to find those exact turning points is always a guess
but ... we do know that there will be a 2nd leg, which means a bit of a drop, and that after that there will be leg 3; the longest upwards wave of the 5 wave ...
of all the different trading tactics there are; the easiest and the safest one is to wait for leg 3 and try to jump on it fast enough
which is kinda easy, because most traders know this, so when leg 3 start, it will be obvious
it will at some point shoot up so hard, it will create enough FOMO to push the prices up, up and up for weeks, possibly months
so ... if you're looking for a safe bet; wait for leg 3 to start
the first one went down, and now we're going up again
all the confirmations are in that there was a 5 wave down and that it has bottomed, so we're now in the next 5 wave ... upwards
obviously we're in leg 1 of the new upwards 5 wave
so, the next question now is ... when will leg 1 peak and leg 2 start?
we might be there, right now ... or not ... to find those exact turning points is always a guess
but ... we do know that there will be a 2nd leg, which means a bit of a drop, and that after that there will be leg 3; the longest upwards wave of the 5 wave ...
of all the different trading tactics there are; the easiest and the safest one is to wait for leg 3 and try to jump on it fast enough
which is kinda easy, because most traders know this, so when leg 3 start, it will be obvious
it will at some point shoot up so hard, it will create enough FOMO to push the prices up, up and up for weeks, possibly months
so ... if you're looking for a safe bet; wait for leg 3 to start
Comment:
leg 3 is between (2) AND (3)
Comment:
zoom in;
Comment:
obviously I have to adjust my circles a bit, but I'm not seeing a real trend change ...
