Today was a whipsaw day pivoting 5 times in 1 trading day. We managed to form a wedge pattern so it is fitting for us to look for a downward bias tomorrow. This morning the Intra-day signaled a long position and did not get a sell by end of day. Although the pattern suggest looking for short position, we should allow the indicator that we use to confirm it.
Main-Trend: UP
Short-Term: DOWN
2 ways to look at the EW pattern forming. Either the downward movement is an ABC pattern or its forming 5 full waves down and may start a new declining trend. For now bias is for an ABC correction as our main trend is still UP.
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