I still have my core long position, but went ahead and took my trading profit at the 78.6 Fib. Can we go higher? Of course. But we can also pullback at any time. It's hard to say exactly which will happen first so I went ahead and put the money in my pocket. Like they say; "Nobody ever went broke taking a profit"
No matter how you play it, good luck!
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If this is another ABC correction of the larger correction it should top out here around $13,175 or so.
If this is Wave 3 of a Wave 5 move is should continue to the 1.618 line around 14,666
"Do you feel lucky punk? Huh? Do ya?" (Clint Eastwood)
Tough call at this point, that's why I'm sitting out at the moment.
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2 Hour View
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30 Minute view of Money Flow.
Is the money existing this trade? It is at least on the 30 minute scale.
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FYI - The 45 minute cash flow is below zero now too.
@AlbertAlbertfa607d39bba848ce, Plus we are moving into uncharted waters so to speak. It is getting really difficult to predict what may be coming next so I try not to interject to much unless I see something that may be a possibility. Even then it's only a possibility. We could literally go either way right now and neither direction would surprise me at all. That's how unsure I am of what is coming next.