If it breaks that upper line it could be start of wave 3.
It then should at least go to 10075 - retrace and might arrive to 10991 / 11476.
It then should at least go to 10075 - retrace and might arrive to 10991 / 11476.
Comment:
I draw a diagonal line on my chart showing trend. If it breaks I'll sell. Better be a bit short on profit than too greedy and miss the deal.
(sorry once published I cannot add that line on the chart) Basically I draw a line from bottom of 16:00 candle, 16:15, 16:30 that touches also 18:45 candle. (Time is shown on the chart)
(sorry once published I cannot add that line on the chart) Basically I draw a line from bottom of 16:00 candle, 16:15, 16:30 that touches also 18:45 candle. (Time is shown on the chart)
Trade active:
Trade is still active; a bullish triangle seems to form.
Trade closed: stop reached:
Not sure what is going on right now. I'd rather close that deal and move on to the next.
Usually , when Wave 3 is less than 1.62, the 5th Wave overextends itself. Ratio of Wave 5 will be based on the entire length from the beginning of Wave 1 to the top of Wave 3.
Extended Wave 5 = either 0.62 x length or = length or = 1.62 x length of beginning of Wave 1 to top of Wave 3.
Let's watch out for 10600 / 11200 and 12500