The wave 3 of 3 we have been monitoring in the past days was not impulsive at all. Taking a step back, to me the idea that we may be in wave 2 fits better into the overall picture. I also like the fact that the there is good horizontal support around 8850/8950 usd which would bring the correction to 50% fib of wave1. Also the increase in volume today kinds of confirms that we are in a corrective secondary trend rather than a lower minor trend.
You are viewing a single comment's thread from:
I do not see the volume to confirm the inverted H&S but another interpretation would be an ascending triangle. However, volume should decrease near the apex of the triangle which is not the case so I prefer the wave 2 theory....
