30% correction, then more than 100% upside

12 Kas 2024

The whole analysis is based on Elliott Wave Analysis:

I believe that we have only just ended the Wave A of Wave (5), heading into a wave B, acting as a corrective move.

Idealy, I would like the price to dip into the 0.5 to 0.618 retracement zone (165-180).

This might take a while, but once this correction is over, I see a very strong move upwords, as a wave C of (5). This should take us to a new ATH anywhere between 400 and 515 (more precise predictions can be made as we approach the mid to end of the wave C).

I would probably wait till the correction is over to buy, 185-180 acting as a buying zone!

13 Kas 2024

İşlem aktif

I could also argue for the (a) already being the circle a, since the previous b's have not been especially deep. Therefore, I would possible already build up a position at the 0.382 retracement (around 196) and scale in, the deeper we retrace. But further price action could alter my view.