If you missed the entry at $2400, here's the pullback entry that you waited for... We've got the Wave-4 low established as the pivot
from which we can work. The assumption here is, of course, that we will now progress in a 5 wave sequence on our way to new highs. The timing is well synchronized with the Aug. 1st timeline and I find this to be right by the play book. There's a very reasonable risk reward here if you're not already in. The 1st entry is available when we come to the 50% retracement
. Wave-2 retracements can be more severe and given the potential volatility
, this could drop
to the 61.8-78.6% which would be a very typical wave 2. So, my suggestion is to split your entry into thirds. First 3rd at the 50%, then again at the 61.8 and the final load at the 78.6 if we go down that far. Stop is below $2,400 so manage the risk according to your risk tolerance and account size. I've got a Wave-5 Target of $3,600 so the risk reward can be as much as 15-to-1. If we do take off toward new highs in August, as I anticipate, this may be best entry we'll see for some time. Of course, anything is possible and extreme volatility
might have stops being run on both sides... There is no "easy money" in trading. Only calculated risks with enough reward to justify that risk. The setup is here... now it's your call.
Stay technical my friends.