Hello. This commentary is for entertainment purposes only. Trade at your own risk. I'm not a professional trader, or expert in the subject.
I believe that we are experiencing a triple ABC correction with two failed X upward waves. Please see chart for possible levels. I made my TA wave "Y" stop at the 62% fib. From which a strong uptrend beginning is possible. Don't judge the waves classifications; I set them to whatever looks good on the screen. For me the wave degree classification is crap.
Thanks for reading.
note: Watch out for trading bots creating unpredictable price swings, when setting up your stop losses. They may trigger your stop limit order despite the upcoming trend. Have you ever thought " darn it the market always moves against me!" you are not alone. Trading bots make traditional TA analysis to fail in the short term, that's because traditional TA is based on human physiology and not in disruptive computer trading software.
I believe that we are experiencing a triple ABC correction with two failed X upward waves. Please see chart for possible levels. I made my TA wave "Y" stop at the 62% fib. From which a strong uptrend beginning is possible. Don't judge the waves classifications; I set them to whatever looks good on the screen. For me the wave degree classification is crap.
Thanks for reading.
note: Watch out for trading bots creating unpredictable price swings, when setting up your stop losses. They may trigger your stop limit order despite the upcoming trend. Have you ever thought " darn it the market always moves against me!" you are not alone. Trading bots make traditional TA analysis to fail in the short term, that's because traditional TA is based on human physiology and not in disruptive computer trading software.
I typed "Y" above. I meant to write Z