Decided to post this chart in particular because I find it interesting. It's one of those charts where you ask yourself "what do I do when...?"
Three wave structures... what to do. Pretty much just wait until it breaks out. There was a slight piercing to the downside but not too convincing for me. Based on what I'm seeing though and if I had to pick a side, I'd be bias to the downside because of that "suggestion" the current wave may have started to collapse. What I'd be watching in this case if I was to short would be to make sure price doesn't go above the previous wave's high (around 0.9433). If it does then we're obviously wrong.
Three wave structures... what to do. Pretty much just wait until it breaks out. There was a slight piercing to the downside but not too convincing for me. Based on what I'm seeing though and if I had to pick a side, I'd be bias to the downside because of that "suggestion" the current wave may have started to collapse. What I'd be watching in this case if I was to short would be to make sure price doesn't go above the previous wave's high (around 0.9433). If it does then we're obviously wrong.