I am not truly happy with the mini Elliott Wave pattern as it doesn't fit quite right. However, there is no mistaking the trend lines, the 15SMA and 5EMA cross, the MACD cross and coming back into non "Ultra bullish" and lastly, momentum well above the 14MA. Once again, I hope to be able to pick a BUY trade at the bottom of wave B.
Comment:
I have set a BUY order at 0.9808. All indicators and moving averages are aligned for a BUY trade on the pullback for Wave B.
Trade active:
Having reviewed price, it is around the 15SMA which I am comfortable in starting a BUY trade at. The target is a full return to the FIB 100% and I will monitor and hopefully have the opportunity to move a manual trailing stop.
Trade closed: stop reached:
Something to watch out for next time. The ABC was very likely completed in 5days. The C wave finishing at point A on the idea and at the 50% fib.