In our last analysis, we identified that we were in a 535 zigzag pattern. We had a bullish setup on the completion of wave B (subwave C). We moved up perfectly and gained over 100% raw gain from that trade!
We are now at a critical zone. We are looking for a rejection here and then a move down to complete the major ABC zigzag pattern.
Trade Idea: - Watch for rejection of structure - Safe entry on break of red trendline - There may be a risk trendline lower timeframe so do keep a look out for that - Targets: 3.6, 2, taper positions thereafter
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