THIS IS NOT A TRADING ADVICE!!!
INFORMATION HERE WILL BE USED FOR A FUTURE AI
Daily chart bigger picture
ABC correction from july 2014 top. We are at C leg of correction. C leg is expected to be impulsive or diagonal.
C leg is shown as impulsive 12345 (blue) wave with leg 5 extention.
Target for leg 5 is %161.8 of W1 to W3.
Target for C leg is also shown on the chart (purple) as %61.8 to %123.6 of A leg. Dark purple area is between %100 to %123.6 of wave A.
Hourly chart - zoom in
C leg of ABC.
Purple 12345 impulsive wave construct C wave.
Purple 12345 has impulsive 1 (green i ii iii iv v), corrective 2 (yellow abc), impulsive 3 (orange i ii iii iv v), corrective - triangle 4 (orange abcde), diagonal 5 (details not drawn).
Also a harmonic crab pattern is shown here, pattern is taken from Mr. C.Berk Tavsan (cberktavsan / abctrading).
Blue shaded area shows possible target area of bigger 12345 wave (blue). Point 4 correction is just about %50 limit.
Possible targets for C leg (red) are shown as red on the chart and shaded area around point C.
12345 (purple) wave accepted as W1 extended, in this case point 5 of this wave is also inline with current position.
In wave 5 we expect to see a RSI divergence which is shown below.
By using all above, even it is not confirmed on the chart, I believe that ABC (red) correction is completed. And based on the daily chart, we will see the impulsive extended wave 5 (blue) to complete the bigger ABC (purple) cycle.
INFORMATION HERE WILL BE USED FOR A FUTURE AI
Daily chart bigger picture
ABC correction from july 2014 top. We are at C leg of correction. C leg is expected to be impulsive or diagonal.
C leg is shown as impulsive 12345 (blue) wave with leg 5 extention.
Target for leg 5 is %161.8 of W1 to W3.
Target for C leg is also shown on the chart (purple) as %61.8 to %123.6 of A leg. Dark purple area is between %100 to %123.6 of wave A.
Hourly chart - zoom in
C leg of ABC.
Purple 12345 impulsive wave construct C wave.
Purple 12345 has impulsive 1 (green i ii iii iv v), corrective 2 (yellow abc), impulsive 3 (orange i ii iii iv v), corrective - triangle 4 (orange abcde), diagonal 5 (details not drawn).
Also a harmonic crab pattern is shown here, pattern is taken from Mr. C.Berk Tavsan (cberktavsan / abctrading).
Blue shaded area shows possible target area of bigger 12345 wave (blue). Point 4 correction is just about %50 limit.
Possible targets for C leg (red) are shown as red on the chart and shaded area around point C.
12345 (purple) wave accepted as W1 extended, in this case point 5 of this wave is also inline with current position.
In wave 5 we expect to see a RSI divergence which is shown below.
By using all above, even it is not confirmed on the chart, I believe that ABC (red) correction is completed. And based on the daily chart, we will see the impulsive extended wave 5 (blue) to complete the bigger ABC (purple) cycle.
