Potential H & S 4 possible entries 123 reversal trendline break neckline break neckline retest We will have to wait to see which one offers the cleanest entry and how clear the right shoulder develops and IF it does
Remains corrective. Our option traders can focus on the 505.00 to 490.00 area.
Ending diagonal in C wave position break of iv is the traditional entry the 4/5 leg should be a 5 wave sequence giving us a higher probability set up on the 2 leg correction completion The diagonal offers a high probability target with the origin of the pattern as the potential but of course this is the UJ The 103.4 to the 102.7 area offers multiple bullish...
Looking for a pullback to the 50 SMA and 382 fib levels.. A bounce there with stochastics turning up from the LRZ Could offer us with a short term tradable event.
Could the complex correction actually be a triangle in the wave 4 position. it COULD be. AT this juncture. Price action and time are the only two factors that will tell us. So. How do we trade this. We dont. Not yet. But on the lower Time Frame. The hourly.. IF it gives us a pullback. IT might offer us a tradable event. Lets look at that next.