Hello traders - Attempting to read CND/ETH
move so far and trying to put it in a right perspective by using Fibonacci, pitchfork
seems to have completed one impulse wave of 1-2-3-4-5 then corrected in A-B-C fashion retraced 78.6% on Fibonacci entrancement. Looks like CND/ETH
has completed 1st leg of 2nd impulse wave and price is now rejected from the upper band of the pitchfork
. As per my analysis, price may retrace to 50% on fib level and then 3rd and most violent wave may begin. For now, I'll keep it on my watch list. I don't trade 2nd wave.