Over here, I've labelled all the waves breakdown as well as drawing a tilted head-and-shoulders. I believe that we are going into a wave 3 (minute degree) that is supported by the formation of the right shoulder.
I expect the neckline to be broken which will then goes down to the first resistance provided by the lower blue trendline.
The next resistance in green will be our first TP target. This is where we can choose to reduce the position, or to adjust the stop loss down in order to ride the position. As the lower target cannot be seen without squeezing the chart and causing the waves breakdowns to be unclear, I will update again when that happens.
The stop loss is above the right shoulder.
Good luck!
I expect the neckline to be broken which will then goes down to the first resistance provided by the lower blue trendline.
The next resistance in green will be our first TP target. This is where we can choose to reduce the position, or to adjust the stop loss down in order to ride the position. As the lower target cannot be seen without squeezing the chart and causing the waves breakdowns to be unclear, I will update again when that happens.
The stop loss is above the right shoulder.
Good luck!
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