Hello friends,
You can see an ideal 5-wave move in the chart. The end point also corresponds to the daily resistance in the larger picture. We expect it to make a correction from there.
The correction movement will also be such that it includes a minimum ABC wave, and since its we are on wave 1, the correction can move to between 0.5-0.618 finobacci values. But remember, wave 2 corrections can roll back up to 99% of wave 1.
And never forget that your system, case management and risk management will always save you money, rather than technical analysis.
I hope it helps.
I wish everyone a nice Sunday.
You can see an ideal 5-wave move in the chart. The end point also corresponds to the daily resistance in the larger picture. We expect it to make a correction from there.
The correction movement will also be such that it includes a minimum ABC wave, and since its we are on wave 1, the correction can move to between 0.5-0.618 finobacci values. But remember, wave 2 corrections can roll back up to 99% of wave 1.
And never forget that your system, case management and risk management will always save you money, rather than technical analysis.
I hope it helps.
I wish everyone a nice Sunday.
