Even after the shakeup of Brexit the larger corrective structure continues. I have been following the ABCD structure from before Brexit and it seems as if the count is still valid. Based on this I will be looking for a long trade in the next week. The smaller ABCD of the larger AB leg could indicate that on NFP this could result in a spike down (grey ABCD) before completing the AB leg of the larger pattern later in July.
Komen:
I will be looking to trade long at the convergence of the weekly PP, SSB, end of ABCD pattern and bottom of 8h OF channel. TP1 will be extension of previous impulse and TP2 the B point of the larger ABCD pattern as indicated in the daily chart above.
