Leading diagonal ended and price is correcting in a wedge. The wedge’s bottom trend line is speculative because we do not yet have another price point to establish a valid trend. However, if you’re familiar with Wyckoff, then you may make out the distribution phase pattern that began at end point of white line (at fib level 1). Also, notice the nearby price gap. Lastly, such a correction would result in Y equaling roughly 1.382x the length of X. So, price will correct to bottom line somewhere near $100 if true.
Kommentar:
I think selling is the smart move until price breaks under $110.