The recent 5 waves down have held a tight channel, typical of a downwards impulse.
If this is the correct count, then a zigzag (5-3-5) correction is likely. I will be looking to see if the next move up looks to be made of 3 waves.
This would bring retracement back to the 0.786 fib level, not unusual for a wave 2.
The low would likely create a bull wick on the daily chart that pierces through the long term upward trend line then returns back inside. (see my earlier post for the long term trend lines )
If this is the correct count, then a zigzag (5-3-5) correction is likely. I will be looking to see if the next move up looks to be made of 3 waves.
This would bring retracement back to the 0.786 fib level, not unusual for a wave 2.
The low would likely create a bull wick on the daily chart that pierces through the long term upward trend line then returns back inside. (see my earlier post for the long term trend lines )
Not
Still in play.B wave went high though - if count is still valid it means the C wave will likely finish higher than originally thought- about $8k for a 0.618 retracement seems about right and puts us right on the long term upward trend line.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.