Best case scenario is that wave 1 is in and wave 2 is happening. Price has already moved into important aggressive buy zones. Price has not indicated that it is finished correcting yet. We are waiting for RSI to start diverging and a head and shoulders to set us up for a continuation of the impulse wave.
Although volume has confirmed this break out, we always need to be wary of pump and dumps from news or large investors. Traditionaly stop loss would be placed at the bottom of the most recent wave 1.
Although volume has confirmed this break out, we always need to be wary of pump and dumps from news or large investors. Traditionaly stop loss would be placed at the bottom of the most recent wave 1.