This is an interesting setup. UJ is highly likely the first part of a five wave impulse corrective structure that ends as an ending diagonal. These can be very long, very boring and are the bottom-pickers' nightmare. Suggested bottoms indicated to the left.
However; One target is reached already.
Was the 1.618 target extension "it"? If it leaves the channel, most likely yes. If no, try again. Looking to the long UJ rally upwards, I think itwill spend a lot of time going down in narrow range and less time try to fly around. Here the rule is to short all highs within the channel. Reasonable SL is recommended.
However; One target is reached already.
Was the 1.618 target extension "it"? If it leaves the channel, most likely yes. If no, try again. Looking to the long UJ rally upwards, I think itwill spend a lot of time going down in narrow range and less time try to fly around. Here the rule is to short all highs within the channel. Reasonable SL is recommended.
Yorum:
Now, while she MAY remain inside the channel, I have done a closer analysis of her. She is complete with 5 down and to be honest, she looks a bit ready to bounce. So be careful with shorts until she has completed corrective structure (her main trend is currently down, so corrective here I mean she may go up).
Emir iptal:
UJ printed its 5th wave complete and went out of the channel, so no need for lower targets in this round.
Looking out for sell targets.
Looking out for sell targets.
