US30USD MR. JONES: BULLISH PULLBACK POSSIBLE
IMHO a Wave -2 pullback is likely in the next 1-4 trading sessions, after reaching support we should continue much higher into a wave-3.
Alternatively (as we can see 5 impulse waves have completed) technically this set of waves could constitute a wave-5 of the next degree higher and a deeper correction could develop.
While we do not think this alternative will develop, its best to be careful and protect your profits and adjust your stops, and there may be some intra-day short setups comming.
NOTE: The divergence between DUMB and SMART money sometimes proceeds a change in market direction/ pullback.
This commentary is not financial advice and is for entertainment purposes only. TRADE YOUR PLAN.
Alternatively (as we can see 5 impulse waves have completed) technically this set of waves could constitute a wave-5 of the next degree higher and a deeper correction could develop.
While we do not think this alternative will develop, its best to be careful and protect your profits and adjust your stops, and there may be some intra-day short setups comming.
NOTE: The divergence between DUMB and SMART money sometimes proceeds a change in market direction/ pullback.
This commentary is not financial advice and is for entertainment purposes only. TRADE YOUR PLAN.
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