after a textbook set of impulse waves, KEY retraces right to the .786 fib. is it time for a new set of impulse waves?
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Let`s hope BTC does not affect this set-up. consider a stoploss under the .786 fib low.
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The bounce on the .786 fib was not strong enough but we now see a bounce on the .88 fib. set a stoploss under the recent low to prevent loss when KEY comes further down. we have a chance of starting a new set of impulse waves
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It is trying to get above the .786 again, this would be a bullish sign.
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Still consolidating between .786 and .618. 1 h RSI indicates it wants to go up but no clear signals...
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we almost made another lower low but it held. it looks like a falling wedge is forming, which is bullish. if this is the case, i expect this "break out" to fall back on top of the falling wedge again and then go up.
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Yes! that was our bounce
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we need more volume on the larger timescales for this to continue...
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another retest of the break out level on a larger timeframe.
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possible decending triangle. the price broke out on the top end. if it can remain above it this can be our reversal.
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the short term idea
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if everything works out, only the C wave is left and then up we go again.
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as expected. this is the time to rebuy. set a stoploss just beneath the top of wave 1.