The price has been moving downward for some time now and completing the 3rd wave based on Elliot waves theory .. what we see as a spike is more like the price giving out its last sellers .. now needs to correct .. and then continue its way down.
I don't think the 5th wave will go down below the 3rd wave, or if it goes, it wouldn't be too much .. we are at the lowest prices of all time, so we are at the end of the downward prices .. also in, fundamental, we had good CPI last week and good earning in the finance sector of the S&P500 .. but still the fed is hawkish on rates and talking about 2 more 0.25 % increase in rates.
But for now, I'm looking for a pullback to our golden zone and then continue to make a 5th wave.
Leave your comment and thoughts.
May your pockets fill with money
I don't think the 5th wave will go down below the 3rd wave, or if it goes, it wouldn't be too much .. we are at the lowest prices of all time, so we are at the end of the downward prices .. also in, fundamental, we had good CPI last week and good earning in the finance sector of the S&P500 .. but still the fed is hawkish on rates and talking about 2 more 0.25 % increase in rates.
But for now, I'm looking for a pullback to our golden zone and then continue to make a 5th wave.
Leave your comment and thoughts.
May your pockets fill with money
Comment:
The price is moving as planned. Waiting for confirmation on GP or near GP
Trade active:
Still active .. didn't touch out stop .. but it's making me tickle my back a little.
Trade active:
looking for setup to enter short position
