This morning at work i posted a small chart showing direction of the abc wave, B wave taregt was around $10,650 which we ended up surpassing by $40 or so... BUT HEY nailedish.
Now the next target wave is sitting at around 10k-ish, but what happens after that?
There is a chance if volume is peaking a bit that we will get a juicy bounce off this and blast through the trend line in order to complete the right shoulder of the H&S and skyrocket outta here.
OR
We could break through that 10 k line and surge downwards.
I am still very unsure on what will play out but i will no be ruling out anything at the moment.
As every-time i look at the bigger picture there is so much room left for that final 5th wave down, i feel the lower-low is needed for us to properly provide ourselves with future juicy gains.
So yes i'm very conflicted, a strong break of the trend line will convince me a that this lower low may not be needed. BUT LOOK HOW CLEAN ITLL LOOK :
It looks as if it fits well, but we wont know until we watch prices play out at 10k.
We have it the trend line a number of times and every-time we do it weakens.
A clear breakout forming the H&S will be an indication that this bearish situation is not occurring and we are in bull zone!!
STAY AWARE!!
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!