Bull count 1) 4 = Triangle ABCDE = unfinished E => price drops to 1650 then reverses to 2300, one should accumulate longs above 1666 (wave E). Stop at 1600. 2) 4 = ABC = finished at 1600 => price increases in impulse, new ATH (wave iii) should occur in 2 days ==> one should buy aggressively with tight stop at 1730. Target 1865-1950
Bear counts: 3) (b). C finished => price will drop fast in (c).C to 1524 (wave 4). Stop is 1815 (wave B).
Well, until breakout (in the form of ATH or under 1600 prices) situation is quite uncertain. I decreased my short. Will act upon confirmed breakout.
Komen
Afrikoin
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yeah. definitely with you on this going either way. I never expected it to break back up this quick, i was expecting a bullish flag, so was looking out for another deeper dip to $1500 zone. Still not convinced by this break, but i would be foolish to ignore the triangle break out and the sentiment around that has now flipped to bullish. The past couple of days some traders were nervous and were expecting $1500, $1420, $1330. So i see why you decreased your short position.
Here is the pattern i was watching i.imgur.com/Fa8y0IX.jpg
Lets watch and see.