This is the wave pattern I am sticking to unless we break to a new high above the trend line (WITH MOMENTUM).
If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break).
The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and resistance. Otherwise, the wave 5 was truncated and I drew it out wrong. No biggie, I will buy a little higher with a guaranteed trend instead of buying here and it drop to $4800.
Questions let me know.
If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break).
The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and resistance. Otherwise, the wave 5 was truncated and I drew it out wrong. No biggie, I will buy a little higher with a guaranteed trend instead of buying here and it drop to $4800.
Questions let me know.