Long UJ? 2nd wave or 4th wave = Double zig-zag?

The plan is to look for exhaustion by looking at the MACD on the daily, it is suggesting just that however if it breaks downside is limited.

Currently I want to look for buy setups around the 50 / 61.8 fibs. 50 is possible but i believe 61.80 / the lower yellow TL is a dream scenario. In order for this corrective structure to be invalidated we have to break the TRUMP low.

* Another scenario is that this is not the 2nd wave but the 4th wave corrective structure.
We can therefore look at the MAX support being at the green line i highlighted.

But in both possible scenarios 3rd wave / 5th wave is imminent. We can also get a truncated 5th creating a double top.

Finally, RIGHT now we are still in the A wave of this "final zig-zag". 5-3-5. So look to see if the b-wave forms a 3 wave structure. We just have to observe for now.

Kommentera:

Zoomed in 1h. Looking for a possible flat / expanded flat setup. 3-3-5. Can't tell as of yet.

Kommentera:

Wrong picture, this one is right. 4th wave should at MAX hit the bottom of wave 1.

Kommentera:

From a fundamental standpoint, UJ is clearly following the developments of trumps healthcare bill.

I quote some republican dude: "REP. BRADY: 95% AGREEMENT ON HEALTH BILL AS OF THIS MORNING"

M15 UJ: 40 pip spike.