One better be careful with this one. It is far from being a crystal clear trade.
1. On a longer term we are working on leg 3 heading south. And not even close to target (chart dont show 1.618 target below)
2. We have HHs and HLs (and a new low) on a 3rd leg that are supposed to just head lower... which means that it might break new lows just as well as it might head for its 1.618 upside target.
In short.. just looking at the weekly it would not be something I would trade right now until the direction is clearer. Sure it is a weekly chart and all that so lets see if the daily chart brings some clarity.
1. On a longer term we are working on leg 3 heading south. And not even close to target (chart dont show 1.618 target below)
2. We have HHs and HLs (and a new low) on a 3rd leg that are supposed to just head lower... which means that it might break new lows just as well as it might head for its 1.618 upside target.
In short.. just looking at the weekly it would not be something I would trade right now until the direction is clearer. Sure it is a weekly chart and all that so lets see if the daily chart brings some clarity.
