FTM - Possible B wave
Just basing off of my previous idea that panned out, and my over all view of the market, I think we are in a B wave correction, still heading to lower lows, once we hit the target areas in red.
However, below is my bullish perspective which is still very viable, depending on how this B wave plays out, but we could have possibly already completed the regular flat, or retracement, of the previous impulse wave.
This area is also an area that has had demand meet, and exceed the supply near this area, if we trade below it than it would become a heavy resistance.
Here is my previous idea, and it bounced nicely from the support area at the 1 extension, we could be making a retracement of that full move or "B" Wave
However, below is my bullish perspective which is still very viable, depending on how this B wave plays out, but we could have possibly already completed the regular flat, or retracement, of the previous impulse wave.
This area is also an area that has had demand meet, and exceed the supply near this area, if we trade below it than it would become a heavy resistance.
Here is my previous idea, and it bounced nicely from the support area at the 1 extension, we could be making a retracement of that full move or "B" Wave
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