Hello Traders
One of the options we have here is a 5-wave impulse in the C. If this is the case, the last top should be the end of the 4. That's why I want to take a short trade to hedge it when the 5th wave is over. That being said, the last low can be the end of the bigger correction, and the wave that I labeled with 4 can be the reversal impulse. So, if it makes a correction instead of coming down, I'll take a long trade.
Trade with care.
Bulent
One of the options we have here is a 5-wave impulse in the C. If this is the case, the last top should be the end of the 4. That's why I want to take a short trade to hedge it when the 5th wave is over. That being said, the last low can be the end of the bigger correction, and the wave that I labeled with 4 can be the reversal impulse. So, if it makes a correction instead of coming down, I'll take a long trade.
Trade with care.
Bulent