It is easy enough to see what is happening with this chart. It is currently approaching the top side of an 3 wave ABC correction It could bounce back for to make a 5 Wave correction or it could break out and go long
We'll have a better idea once we reach the structure top.
All weekly forecasts will be updated as they develop so remember to follow to receive them.
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes. Your Ideas, comments and questions welcome
Good luck Steve
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This may be breaking down to start the E wave of the correction - wait for the break out before entering short. If it goes there should be a nice trade down to the channel bottom
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We are still waiting for a breakout for this ending diagonal - expected to go short but don't be surprised if it breakout long as this is a "D wave"
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Bearish Breakout? - wait for a flag or larger consolidation below the trend line before entering short
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Waiting for a breakout - it can go either way but I'll only trade the short if it comes
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