We are currently looking for the confirmation of the subwave 4 of the wave C correction (in white).
I'm gonna play with the wave C (in blue) as it follows:
1. We need a candle setup to "confirm" the sub-correction, I'm waiting for a hammer and the next candle to close above it.
2. When this happens, our RRR will be too low, so wait for the wave B to retrace A.
3. Don`t think wave B will retrace more than 164 (fib 61.8%), so this will be our buy point. Stop loss: 159.99 and target: 178.49.
4. RRR: 3.25
If you're buying to hold, ladder your buys. We'll have another chance to buy in this levels at wave 5.
You're responsable of your own money, this is not a financial advise but my opinion.
Happy trading!
I'm gonna play with the wave C (in blue) as it follows:
1. We need a candle setup to "confirm" the sub-correction, I'm waiting for a hammer and the next candle to close above it.
2. When this happens, our RRR will be too low, so wait for the wave B to retrace A.
3. Don`t think wave B will retrace more than 164 (fib 61.8%), so this will be our buy point. Stop loss: 159.99 and target: 178.49.
4. RRR: 3.25
If you're buying to hold, ladder your buys. We'll have another chance to buy in this levels at wave 5.
You're responsable of your own money, this is not a financial advise but my opinion.
Happy trading!