Counting waves here, it looks to have completed the 4th wave with an ABC correction and has now found the bottom of the white flag with a positive RSI divergence on both the 4hr and 1hr time frames.
My target is measured by the 1. fib trend line extension as well as the vague upper red trend line.
It has left the red flag which is some concern after it had been retested, however it's still above the blue resistance and creating positive RSI divergence along the way.
My target is measured by the 1. fib trend line extension as well as the vague upper red trend line.
It has left the red flag which is some concern after it had been retested, however it's still above the blue resistance and creating positive RSI divergence along the way.
On top of that I have highlighted the ABC correction.
I'm Long.