Hey guys,
Thought I would stop by to share my toughts.
I think we are in a third intermediate corrective wave (C), we broke the triangle and found support at FE 61.8 (1.162).
Possibly we are entering a retracement to kiss the triangle or consolidation to the channel line before we head back down for a third minor wave.
We could get a fourth and a fifth wave to complete intermediate wave C before we start primary wave 3 UP.
In my opinion 1.134x would be a level to watch for support, this is @ fib 50.0 in long term trend, a new channel would have been formed to kiss the prior channel line.
This could be a reversal for the year, when drawing time zones the next reversal is expected early Januari.
But this is still far ahead ofcourse,
Happy trading
Grtz
Daily Primary - Intermediate
H4 Intermediate - Minor
Thought I would stop by to share my toughts.
I think we are in a third intermediate corrective wave (C), we broke the triangle and found support at FE 61.8 (1.162).
Possibly we are entering a retracement to kiss the triangle or consolidation to the channel line before we head back down for a third minor wave.
We could get a fourth and a fifth wave to complete intermediate wave C before we start primary wave 3 UP.
In my opinion 1.134x would be a level to watch for support, this is @ fib 50.0 in long term trend, a new channel would have been formed to kiss the prior channel line.
This could be a reversal for the year, when drawing time zones the next reversal is expected early Januari.
But this is still far ahead ofcourse,
Happy trading
Grtz
Daily Primary - Intermediate
H4 Intermediate - Minor
What's that smell? ---- I smell money!
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