Simple's Green Room

[pennies2007]

That's right stargate. Waves 2 and Waves 4 can show a good deal of sideways action until the next wave begins.

Since this is Wave 4 on the 1 hour chart, it could easily trade in a channel for a while before dropping into the next wave to make lower lows.

That's why I'll be out at 122.25. I'm taking the conservative exit.