Hi Guys,
Normally I dont like to watch the lower time frames, but this time the market is so volatile that I think there is good reason to watch the patterns on small time frames too.
What I am seeing is that the pump yesterday was the third leg up in the Elliot wave. Now we have seen a complete Elliot wave up. We are therefore in for a correction.
I believe that levels to watch are 3820 for a potential bounce up, then up to old support of 3885, then leg C to 3675.
Trade Safe!
Normally I dont like to watch the lower time frames, but this time the market is so volatile that I think there is good reason to watch the patterns on small time frames too.
What I am seeing is that the pump yesterday was the third leg up in the Elliot wave. Now we have seen a complete Elliot wave up. We are therefore in for a correction.
I believe that levels to watch are 3820 for a potential bounce up, then up to old support of 3885, then leg C to 3675.
Trade Safe!