Price consolidates = the current wave is an correction of 2 cases:
Case 1: This is Wave B in range of WXY or WXYXZ. So, price may break the triangle and go up to 61.8% fibo level
Case 2: This is Wave B of B which follow a 5 waves impulse (wave A) . So, if price breaks the triangle, price will move down to 50% fibo level.
Just waiting for breakout to confirm the direction. I call it the SafeZone to trade.
Case 1: This is Wave B in range of WXY or WXYXZ. So, price may break the triangle and go up to 61.8% fibo level
Case 2: This is Wave B of B which follow a 5 waves impulse (wave A) . So, if price breaks the triangle, price will move down to 50% fibo level.
Just waiting for breakout to confirm the direction. I call it the SafeZone to trade.
