The larger wave structure calls for a Zig Zag and it is coming now\soon. (I don't believe that the first wave down is part of this unfolding Zig Zag)
The .82 cent area is critical support and will not be broken.
Ideally you would want to ride this next wave down an then initiate a long position once complete using part of the profits from the way down to accommodate such a long stop which you will be able to move up eventually anyway.
The question is when do you short? Well you could short now with a stop above the high but you can lower your risk if your patient and that time is coming.
Stay tuned.
The .82 cent area is critical support and will not be broken.
Ideally you would want to ride this next wave down an then initiate a long position once complete using part of the profits from the way down to accommodate such a long stop which you will be able to move up eventually anyway.
The question is when do you short? Well you could short now with a stop above the high but you can lower your risk if your patient and that time is coming.
Stay tuned.
