It seems wave 3 is in progress on the minor period?
I have set up a Short Stop breakout trade. The trade will be active on breakout of structure to trade the remainder of what seems to be a wave 3 and wave 5.
Most likely I shall add another position if a wave 4 structure appears, to trade a second position on wave 5.
Note: MACD has NOT confirmed a wave 3 and 5, but has the previous Impulse and Correction. 3SMA shows its a high probability to break out of the channel, together with Stochastic RSI and RSI indication.
------------------------------------------------------------------------------------------------------------------------ NB: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy. Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out. ------------------------------------------------------------------------------------------------------------------------