Seems like the the preious case with a more pronounced correction after triangle in grey has just been ruled out and we are back to the bullish case with a creeping wave 1 as another leading diagonal in a row. Alternatively the grey triangle may still play out, however looking at RTS developments it is unlikely.
Seems like I have spotted more organically looking alternative to my immediately bullish count. That way wave (2) wxy is much more credible on lower timeframes.
I continue to expect USDRUB futures to rise and maintain bullish interpreations of the count. A series of first nested waves is often difficult to spot and the market always tries to shatter your thinking. The trade is opposed to fundamentals that command ruble to strenghten but technical analysis says up.
Hello traders,
here's a good example of a triangle pattern (marked red) which has been confirmed as correct by a continuation upwards. Now that the pattern-driven move is about to be completed near upper band of a channel we can use this SHORT opportunity from this position targeting a lower band of a channel (entry point is cirled)
Good luck and use SL!
Tony
When the price level is crossed (line 1), the price will decrease. Options for corrective price growth are shown in the figure. Revision of the forecast when price levels are reached (line 2 and line 3), if necessary.
To be, or not to be, that is the question:
Whether 'tis nobler in the mind to suffer
The slings and arrows of outrageous fortune,
Or to take arms against a sea of troubles,
And by opposing end them? To die, to sleep;
No more; and by a sleep to say we end
The heart-ache and the thousand natural shocks
That flesh is heir to, 'tis a consummation
Devoutly to be...
