We have a 5 wave 1 and a wave 2 it appears in our final c of this correction. The fibs suggest that it will head to .02 (magenta line) which also has confluence with the .5 retrace. Isn't interesting that it looks like a H+S pattern. This will likely fake out many traders. I did a little fib time and it appears that 3/28. This is a bit for kicks as not my wheelhouse. Any rate I have orders at .02 and some at .016 at the .618 retrace in the event we have bigger fib extensions. Again, the larger 3rd wave should take us to high $20's on a USD basis.
Kommentera:
Right now it looks like ii of c is tracing out a larger pattern. If it breaks below .025 this is a solid short if you are inclined to trade this way and can find an exchange that can do it. Target is still the same, but for timing to hold true it will have to hit the iii target tomorrow.