My expectations: 1. Bullish momentum, first target around the 161% extension of wave 1, a correction that can not cross the top of wave 1 as wave 4, and a new wave 5=wave 1 will terminate the first Major Wave 1 >> correction... 2. New Major impulse wave target the 161% extension of wave 1 (major), this will forge a Bearish Gartley pattern @1.130$;
GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD
iMPULSE LEG:
Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave one gains; Can never exceed the start of wave 1); wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave); wave 4 = 38.2% to 50% of wave 3 (can never overlap wave 1 [i.e., cross into the same price area]); wave 5 = wave 1
Safe Trades;
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1H chart: 1st impulse, 5 waves forging major wave 1