This wavecount suggests one more leg up in the wedge
Updated
This wave count suggest one more leg up to form an intermediate wave E before a larger price drop. In a primarily wave count (dark pink) I am open for the possibility the blue wedge being a wave A in a ABC correction.
Stay aware that price might as well break out at point (D) as we are moving pretty close to the wedge's apex now. If point D is broken I suggest closing any longs. Watch how price currently behaves around dotted blue trendline near point (D) on lower timeframe for clues of a potential breakout.
Stay aware that price might as well break out at point (D) as we are moving pretty close to the wedge's apex now. If point D is broken I suggest closing any longs. Watch how price currently behaves around dotted blue trendline near point (D) on lower timeframe for clues of a potential breakout.
Note
Two structures to watch. In addition to the wedge above we have a unorthodox ascending triangle as well that is pushing force on price from below. As long as we get higher lows as we just have seemed to got in point D now.
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