Hello everyone i posted a couple of GJ setups this week some worked well some not so much. Yesterday i sold gj right at the top of what i believe is a flat abc correction which had already completed its C wave at the top and was starting its first impulse wave to the downside.
Now the trend is still bearish so this is a counter trend trade. I believe that the wave one has already finished and it is now starting its first corrective wave or the second wave so i am atleast expecting a 0.382 pullback. I will look to sell again from the top as i strongly believe that it should pullback before resuming its trend. Also we have a harmonic pattern in the form of a butterfly which further indicates bullish momentum for now. Market conditions are also suggesting that we are oversold short term
Cheers
Now the trend is still bearish so this is a counter trend trade. I believe that the wave one has already finished and it is now starting its first corrective wave or the second wave so i am atleast expecting a 0.382 pullback. I will look to sell again from the top as i strongly believe that it should pullback before resuming its trend. Also we have a harmonic pattern in the form of a butterfly which further indicates bullish momentum for now. Market conditions are also suggesting that we are oversold short term
Cheers
