I have drawn a small 5 wave impulse leg up out of down trend. Wave 5 was an extended wave which has led to the large corrective flat finishing at C. Im thinking that this could be the start of another impulse wave up.....
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both targets hit profit taken before the weekend :)
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On review we could have an extended wave 1. I will buy a break out as shown as part 2 of this trade. from a wave1 extension waves 3 and 5 are close in length and projected target is a .618% extension of wave 1 as drawn.
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Part 2 active and updated
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part 2 target hit trade closed. will update new trade in new post.