[Summerset]

By running an Andrews Fork on the momentum index of a 5th wave, or the momentum index of any ABC bottoming / topping formation, we can forecast the demise of one higher degree wave, and breakout of the next, upon momentum breakout of the Fork's upper or lower medians.

This relationship is true with any momentum index. Not Just CCi. And is shown, on the current Eurodollar 4hr Chart attached.

Note that the breakout of wave 2 into 3, was precceded by breakout from the upper median of the mommentum fork running on waves 5 --> A/B/C. (all waves of one lesser degree to the current degree).

The same situation is currently materializing with the current impulse wave -3, on 4hrs, which its about to break its lower momentum median & tumble into 4.

Once confirmed over the coming few hrs, the traget is 1.5000

The recommendation is to sell 5440 --> 1.5000. If missed, it possible to sell a break below the 1.618 fib extension shown on the 4hr chart.

Just in case the lower momentum median doesn't break, and price is still doing an extended wave-3 on 4hrs. We will hedge our sell position by buying a stop above the current flat high made at 5520 to target 5770, on the daily.

This is clearly shown on the Daily Chart attached. 5770 is the 2.618 extension of the last corrective swing.

On the daily too, note that we are about to break below the wave-1 momentum fork.

Usually waves 3 show, an extenstion in overbought momentum. While waves-1 & 5s, show only spikes in overbought territory.

Momentum Spikes, and extensions should alternate. Accordingly, with current daily wave-1 we (should) see spike to sell into. But its not confirmed until the momentum fork breaks, and double confirmed with the CCi falling below 100. Because of this possibility of an extension can not be entirely ruled out, and we stand ordered to buy 5520 too with our sell of 5440, or reverse in the 5520/30 vacinity.

After the move is over at 4980/5000, we would buy on signal.

Profitable trading