For the less experienced traders it is wise to see if this fift wave plays out, and then buy the retracement. Ideal would be to test the longterm resistance as a support.
A close below 6250 will invalidade this count! 6000 would be ideal target.
A close below 6250 will invalidade this count! 6000 would be ideal target.
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So we got a reaction! We dropped below the 6250 to test the longer term resistance line as support and instantly had a reaction to the upside. although we did not get a EW faillure, we did drop below our wave 1 area (did not close). For me personally this is still a notrade zone. For now I will be trading the market like this :
*This is not financial advice :)
*This is not financial advice :)
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Targets too the up and downside stay the same for now.