Looks really possible to reach this level. Previous support + fork midline. Why not?
potential 5 waves are forming here. Feel free to comment and judge.
If it forms bullish pattern and break it, it can be pretty good entry with tight stop loss.
It just broke through current dow, and made higher high. pretty simple break out entry can be done here.
I should warn you that it is the break-out entry. You should wait for the price to break out, and place very tight stop loss. Things may change, pattern can turn into bullish, so be careful.
No need of any further explanation. New releases were just ass.
If it breaks current strong support and forms a bearish flag pattern, im planning to enter short trade. Target point is flexible, if it forms bearish pattern continiously, we can see further drop.
Wave C of correction might happen here. Stop loss is placed right under the wave A. Take profit is placed potential resistance above wave B.