UCO Wave 5 $34.85
Hello,
My Thoughts For You
We are on wave 5 now and the common length for wave 5 is equal to wave 1 or 1.618% of wave 4. Looking at the chart I decided to go with the wave 4 measured move because wave 1 equal measurement would bring wave 5 to be 29.56 which would become a truncated 5th wave and I don't see that happening given the upward pressure of the RSI which has plenty of room to move before it reaches overbought conditions on the daily TF.
If you're not sure how to get into a trade or when to take profits then check out this tutorial I have created in the comments section under "My Trade Advice For You"
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
My Thoughts For You
We are on wave 5 now and the common length for wave 5 is equal to wave 1 or 1.618% of wave 4. Looking at the chart I decided to go with the wave 4 measured move because wave 1 equal measurement would bring wave 5 to be 29.56 which would become a truncated 5th wave and I don't see that happening given the upward pressure of the RSI which has plenty of room to move before it reaches overbought conditions on the daily TF.
If you're not sure how to get into a trade or when to take profits then check out this tutorial I have created in the comments section under "My Trade Advice For You"
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
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