The pattern that has formed looks like 5 waves up and 3 waves down, which means that there is now a high probability of again 5 waves up, before this corrective pattern is completed.

We also have a finishing pattern here, a iSHS (i for inverse) which has been triggered by breaking out of the neckline level

The minimum target for this pattern is 3780$ but I think it will go up more. The perfect target (100% extension) would be 3914$.

If it starts going down again around this level, I will load up some shorts again on monday.

The fact that this pattern took a long time to develop is also an indication for a corrective pattern developing.

If you think this to be useful information:

DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Tell me what you think...

Have a nice day :-)