BUYING THE DIP after an almost 100 handle deep 5 wave down !!
EW ma's 13 and 34 making a bull cross - might indicate a BTFD at red c. But also indicating that we might only see a corrective 3 wave move up.
If corrective 3 wave ABC up pans out it should be a 88.6 retrace.
(Making the right shoulder of an IHS at orange B)
SP did make a 5 wave down so a corrective 3 waves up making a wave 2 - could def. pan out
RSI has broken out above resistance but still in overbought area on the 4h chart.... have to show strength after having made the red abc retrace... but might be coming short an start showing divergens...
As always.... time will tell
@BLawrenceM
Music at work:
www.youtube.com/watch?v=BBMriOsp...
www.youtube.com/watch?v=PukKW3gY...
EW ma's 13 and 34 making a bull cross - might indicate a BTFD at red c. But also indicating that we might only see a corrective 3 wave move up.
If corrective 3 wave ABC up pans out it should be a 88.6 retrace.
(Making the right shoulder of an IHS at orange B)
SP did make a 5 wave down so a corrective 3 waves up making a wave 2 - could def. pan out
RSI has broken out above resistance but still in overbought area on the 4h chart.... have to show strength after having made the red abc retrace... but might be coming short an start showing divergens...
As always.... time will tell
@BLawrenceM
Music at work:
www.youtube.com/watch?v=BBMriOsp...
www.youtube.com/watch?v=PukKW3gY...
