after a textbook set of impulse waves, KEY retraces right to the .786 fib. is it time for a new set of impulse waves?
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Let`s hope BTC does not affect this set-up. consider a stoploss under the .786 fib low.
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The bounce on the .786 fib was not strong enough but we now see a bounce on the .88 fib. set a stoploss under the recent low to prevent loss when KEY comes further down. we have a chance of starting a new set of impulse waves
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It is trying to get above the .786 again, this would be a bullish sign.
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Still consolidating between .786 and .618. 1 h RSI indicates it wants to go up but no clear signals...
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we almost made another lower low but it held.
it looks like a falling wedge is forming, which is bullish.
if this is the case, i expect this "break out" to fall back on top of the falling wedge again and then go up.
it looks like a falling wedge is forming, which is bullish.
if this is the case, i expect this "break out" to fall back on top of the falling wedge again and then go up.
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Yes! that was our bounce
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we need more volume on the larger timescales for this to continue...
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another retest of the break out level on a larger timeframe.
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possible decending triangle. the price broke out on the top end.
if it can remain above it this can be our reversal.
if it can remain above it this can be our reversal.
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the short term idea
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if everything works out, only the C wave is left and then up we go again.
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as expected. this is the time to rebuy.
set a stoploss just beneath the top of wave 1.
set a stoploss just beneath the top of wave 1.