Large picture:
waves 1,2 and 3 of the elliot wave impulse wave is complete.
Small picture:
Descending triangle is forming in the short term.
It is that simple.
Strategy:
Enter trade at the top of the decending triangle.
Target previous support at the fib line. That zone is a fresh supply zone that has only been touched twice so chances are good that it will bounce from there on the third touch, ALSO a great buy opportunity.
waves 1,2 and 3 of the elliot wave impulse wave is complete.
Small picture:
Descending triangle is forming in the short term.
It is that simple.
Strategy:
Enter trade at the top of the decending triangle.
Target previous support at the fib line. That zone is a fresh supply zone that has only been touched twice so chances are good that it will bounce from there on the third touch, ALSO a great buy opportunity.