Epic shorting opportunity here!! The past 10 years looks to have been a huge 3-3-5 flat. Given we have had one impulsive wave to the downside prior to it, I believe we will get one more impulse to the downside to complete the correction.
Reasons for:
- B shows a clean 3-3-5 flat
- B completed at the .618 fib retracement of A
- we've only had one impulsive wave down; we need one more
Stop loss set just above previous high in case we get a bull trap. Target would be the 61.8 fib extension of A minimum.
Thanks :)
Reasons for:
- B shows a clean 3-3-5 flat
- B completed at the .618 fib retracement of A
- we've only had one impulsive wave down; we need one more
Stop loss set just above previous high in case we get a bull trap. Target would be the 61.8 fib extension of A minimum.
Thanks :)
Trade active
From a Wyckoff Distribution perspective.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.