Also see the Weekly chart from today.
B waves often have a Fibonacci relationship to the A wave. You can see the recent daily top is just short of the .618 retraction. The B wave top may be in or could be a little more rise to the actual .618 level. There is a W base short term. If price pops above the lid of the W we may see a measured move up as indicated by the vertical arrows on the second chart. Of course it could always keep going up. All of this is just a plausible guess but it helps me anticipate when to take a position if it works out.
Hope this is helpful to you or at least interesting.
Take care. Feedback always appreciated.
B waves often have a Fibonacci relationship to the A wave. You can see the recent daily top is just short of the .618 retraction. The B wave top may be in or could be a little more rise to the actual .618 level. There is a W base short term. If price pops above the lid of the W we may see a measured move up as indicated by the vertical arrows on the second chart. Of course it could always keep going up. All of this is just a plausible guess but it helps me anticipate when to take a position if it works out.
Hope this is helpful to you or at least interesting.
Take care. Feedback always appreciated.
