Eia extended the upswing but gravity prevailed.
Now we seem to be headed to the intersection
median downsloper and MLH upsloper.
I will certainly contemplate longs there with
median upsloper as first target and
MLH upsloper as second target.
Please note my bigger stop for the second target.
Trade well and prosper :)
This bearish movement seems more like an impulse rather than a zigzag. So, wave is likely going to be continued in a form of a zigzag. I don't have any trader so far. I'm going to sell only after wave b of (y) ends.
In my last chart I pointed out a point of interest and possible long entry. It seems price has indeed bounced and is now headed north. The median on this hourly chart is a high probability target for me now.