i see that the wave 3 of purple is complete and now waiting for wave 4. if want to go long although it is not recommended, i suggest put stops at 78.18. i expect wave 4 complete at fibs level 0.236/38.2 or even 0.5, which are the common levels for wave 4. The invalidation for this wave is at 82.39. After the complete of this slight rally, i expect price will make a new low for wave 5, and complete the ending diagonal on higher degree.
Comentário:
Wave 4 might be complete, which is running flat with confluence with rule of alternation. however it does look too short by time aspect. i took a short position with stop at 79.18 for wave 5 of purple
