potenial wave 2 flat
as per chart and wait to see if it finds support before long
Note
Minor wave 3 was extended so didn't expect wave 5 to extended but this could be the case looking at current price. odds favour a trade on break of the green channel to the other side of potential larger channel. Note
invalidate set up now Note
Price found support at 123.6 retracement of wave A which can indicate an expanded flat. Retracement target hits perfectly on a 50% retracement of the 5 wave structure. Will look for long entry then short at 50% level. will update if position taken....Note
order placed, long on break off high as shown... Note
long trade active
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.