Waves finished its correction and is on its way back up, together with lots of positive developments last days. Broke out of downtrend, now retesting that trend, wait for breakout for leg 5. Target in blue box, based on Fibonacci extensions.
Target reached, expecting a pullbackto the blue trendline
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Price made an extra push into the targetbox but also made a trend reversal pattern what is indication for pullbach which is happening right now. If this is the top for (B), I'm expecting a nice retracement to the next blue box which is close to the trendline. Coincedence? I dont think so ;-) If we reach blue box, watch price action if we get next move up. My bigger view shows a rise to 0,003 middterm.
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What a beautiful chart! Hitting the targetbox 2x in a row!! Watch priceaction right now,, breaking out of this pattern is a great chance to go long again.
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Quick update as I see some downmovement overall in the market. Keep your eyes on the blue trendline, if it breaks for a couple of candles we might retrace some more. Midterm view is still bullish. Trade what you see, not what you think!
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Price made a bearish flag alongside the trendline. Breaking it was sign to close the trade as it seems that the ABC correction is going deeper. Check also my previous update above here where I warned for that.
Bases on latest movement, targetbox where support could be found and we might start a new cycle