Currently looking as if we are going to form a diagonal triangle formation. Make sure to look for an ABC subwave for wave 3 and 4 before assuming that this is actually a 3-3-3-3-3 pattern as wave 2 is not clear. If confirmed on wave 5, we will likely see a strong corrective wave and possibly a continuation of the previous bear market. Will need to confirm first and look at the higher wave counts before deducing where to place the take profits on the short. Once wave 3 and 4 is formed, if it adheres to a 3-3-3-3-3 pattern I would set the entry point just under the high for wave 3 to ensure the order is executed at the expense of less potential profits.
If the 3-3-3-3-3 is not formed on wave 3, go long and look for the ABC of wave 4 to determine logical entry point.
If the 3-3-3-3-3 is not formed on wave 3, go long and look for the ABC of wave 4 to determine logical entry point.
