KEY makes a textbook retracement. on to the next target?

after a textbook set of impulse waves, KEY retraces right to the .786 fib. is it time for a new set of impulse waves?

Uwaga

Let`s hope BTC does not affect this set-up. consider a stoploss under the .786 fib low.

Uwaga

The bounce on the .786 fib was not strong enough but we now see a bounce on the .88 fib. set a stoploss under the recent low to prevent loss when KEY comes further down. we have a chance of starting a new set of impulse waves

Uwaga

It is trying to get above the .786 again, this would be a bullish sign.

Uwaga

Still consolidating between .786 and .618. 1 h RSI indicates it wants to go up but no clear signals...

Uwaga

we almost made another lower low but it held.
it looks like a falling wedge is forming, which is bullish.
if this is the case, i expect this "break out" to fall back on top of the falling wedge again and then go up.

Uwaga

Yes! that was our bounce

Uwaga

we need more volume on the larger timescales for this to continue...

Uwaga

another retest of the break out level on a larger timeframe.

Uwaga

possible decending triangle. the price broke out on the top end.
if it can remain above it this can be our reversal.

Uwaga

the short term idea

Uwaga

if everything works out, only the C wave is left and then up we go again.

Uwaga

as expected. this is the time to rebuy.
set a stoploss just beneath the top of wave 1.

Nickvdb

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Nickvdb