Overview: let’s review the key points of previous update:
Update: we broke down through the hourly ascending channel, but I am struggling to see a complete wave structure for wave 1. This is a nice compression that needs to break to one side soon. I am still going to have the same idea that wave 1 peak is not yet in and this week we should go higher as wave c of (V) of c of 1. I have ~160 as a potential target for wave 1 peak.
- We should continue higher to complete wave 1.
- Bearish Harami on the daily chart.
- Lose of hourly ascending channel, supports wave 2 start.
Update: we broke down through the hourly ascending channel, but I am struggling to see a complete wave structure for wave 1. This is a nice compression that needs to break to one side soon. I am still going to have the same idea that wave 1 peak is not yet in and this week we should go higher as wave c of (V) of c of 1. I have ~160 as a potential target for wave 1 peak.
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