A wild stab in the dark
Updated
*DISCLAIMER* I see this recent move up as mostly impulsive and think further upside is the most likely outcome.
I am just posting this for fun to see if it plays out like the last one similar. I do think there is a decent chance this plays out, however less likely than the bullish case.
0.618 fib extension for this wave c of (b) because it would stay above the 1.618 fib retracement of wave (a), keeping the possibility of a corrective move afloat.
*THIS IS NOT TRADING ADVICE*
I am just posting this for fun to see if it plays out like the last one similar. I do think there is a decent chance this plays out, however less likely than the bullish case.
0.618 fib extension for this wave c of (b) because it would stay above the 1.618 fib retracement of wave (a), keeping the possibility of a corrective move afloat.
*THIS IS NOT TRADING ADVICE*
Note
Looking at it again, it seems even more unliekly since we had what seems to be a 5-wave move up off the low and b wave cannot have a 5-wave structure.This was the fractal I was thinking about when posting, in case it still does pan out:
That one was a larger zig-zag, since wave (a) was a 5-wave structure. This would have to be an expanded flat with (a) being 3 waves and (b) extending below the start of (a).
Note
Also notice the similar patterns in both wave b's RSI.Note
First target hit.Note
Trade closed: target reached
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