In this chart we can see a good 8 Hrs of Retrace from (3,B).
Think Wave "C" is started.
This is also a 3 wave pattern.
I am expecting something like the "RED" Lines.
back to 23.6 and down to 50% (This can happen on FOMC statement) and then will shoot up to complete the "C" wave.
I think the second red line can happen with FOMC pre news.
Mostly FED wont do tapering on sep and that will bring the market up to complete the wave "C".
I was (Buy) in with a small position from 88.10 and added it to full position at 88.30. Initial first target at 23.6% (89.18).
KC.
Edit:- This is were I need more research or guidance....
Wave 5 took 21 days
Wave A took 8 Days.
Wave B took 4 Days. (usually the theory is correction cant be quick. It should take equal time like other ways). So have to be open that still "B" is cooking and can come down anytime.... If you have any insite..let me know.
Think Wave "C" is started.
This is also a 3 wave pattern.
I am expecting something like the "RED" Lines.
back to 23.6 and down to 50% (This can happen on FOMC statement) and then will shoot up to complete the "C" wave.
I think the second red line can happen with FOMC pre news.
Mostly FED wont do tapering on sep and that will bring the market up to complete the wave "C".
I was (Buy) in with a small position from 88.10 and added it to full position at 88.30. Initial first target at 23.6% (89.18).
KC.
Edit:- This is were I need more research or guidance....
Wave 5 took 21 days
Wave A took 8 Days.
Wave B took 4 Days. (usually the theory is correction cant be quick. It should take equal time like other ways). So have to be open that still "B" is cooking and can come down anytime.... If you have any insite..let me know.