Hi all,
A couple of days ago I posted a chart that suggested we're currently in the process of forming a second wave of a larger third.
Targets for wave 2 lay between 8500 and 8900.
I expect to see a small 2% rise back to the top of our resistance line at around 9200-9300 before further drop.
I'm looking to add longs within my buy zone as this is where I expect the simple ABC second wave to complete.
As per my previous analysis further downside is possible should we fall below the 0.65 at 8400, and new lows are likely should we fall below 0.786 at 8000.
A couple of days ago I posted a chart that suggested we're currently in the process of forming a second wave of a larger third.
Targets for wave 2 lay between 8500 and 8900.
I expect to see a small 2% rise back to the top of our resistance line at around 9200-9300 before further drop.
I'm looking to add longs within my buy zone as this is where I expect the simple ABC second wave to complete.
As per my previous analysis further downside is possible should we fall below the 0.65 at 8400, and new lows are likely should we fall below 0.786 at 8000.
