We are Green on hitting a C At the 1.618 level
We are green on for trigger
We are green on formations indicating movement exhaustion
We have yet to see the confirmation of a clean Countertrendline Break in the hourly Chart in order to commit.
If you are In STAY IN.
If out, WAIT FOR THE CONFIRMATION OF THE COUNTER to proceed with confidence.
It is becoming a good entry but we've been fooled before so wait for final PA Confirmation.
If the breakout is clear then the entry is at the beginning of the Next hourly candle after the break.
Put your SL at 10% of the lowest low of the U-Turn.
Hopefully, this will bring us a nice profit.
It retested the higher nines and found no steam. It went back up to test the upper 10's and momentum ran out. So right now it is a waiting game.
And don't forget about the ending futures upcoming Friday... Don't be surprised that even if we go up now we can be down by Friday.
For a proper rally we need more of everything. But it is a good place for a matrix/grid trade. Although still hedging confirmation is required.
Although a good rebound at Monthly .618 would mean a massive target to trade the monthly chart. We would have a beautiful Major "C" It is a 6-8 month trade, maybe even more. But I like it.
Cheers and Wise trading.