ng has deeply corrected in a triple zigzag formation to the .618 retracement low, from there we notice a complete 5 wave impulsive cycle with the potential of a new cycle forming for potential wave 3/C, this implication is that we likely retest above 3.0+ in the near future
Comment:
this count has sometimes confused other elliot wave traders as the B wave has been disguised as a potential w3 or w5 pattern.. the expanded flat correction is difficult to predict
Trade active:
long entry active at 2.7 with a stop at wave C invalidation
Comment:
in profits currently from 2.7, but the wave looks corrective, in order to protect myself from a wrongly biased count.. i am putting my stop loss right at 2.7 breakeven. gl traders
Trade closed manually:
very close to being stopped out, when the bounce from 2.7 failed upwards, i took a scalp profit out of it at 2.72.
this was a highly optimistic count, that has not yet been invalidated, but the price action is very choppy and unpredictable and i don't like trading this way.
this was a highly optimistic count, that has not yet been invalidated, but the price action is very choppy and unpredictable and i don't like trading this way.