equality between wave (Y) and (W)
Not
possible short-term structure Not
break below 65.21 would send another invitation to bears
Not
the decline after flat was in three waves, so the flat could be a wave W insteadNot
I came up with a different count Not
I am shifting my previous preferred count to alternative structurepurple count is my preferred structure
Not
Since the short-term pattern looks corrective, the July high of $75.25 could be broken again
Not
and of course, the bearish count may still work, but whether there is any trading opportunity or not, could be a different story
another push above 71.36 would suggest the triangle case mentioned above
any close below 64.4 could lead to further bearish potential (the potential that $75.25 is a larger degree top)
Not
Not
Not
possible bigger pictureNot
Not
Not
wave {A} done?Not
Not
short-term bullish count wave {iii} has already surpassed the 1.618 extension (at 50.99)
Not
Not
the 1.618 extension should be at $51.80Not
Not
short-term bullish count in blue, alter count in grey Not
Not
Not
if wave {v} has ended at $54.3, we should expect a three wave correction which could drag price back to the end of wave {iv} ( note the pink {a}-{b}-{c} could also be just the wave {a} or {w} at the same degree);if wave {iv} is still unfolding ( e.g. triangle (a)-(b)-(c)-(d)-(e)), another modest push above $54.3 is possible although I think it's very less likely to happen.
Not
Not
Not
short-term count Not
Not
the alternative count
Not
running triangle for wave (B)? Not
Not
Not
Not
wave (C) is likely underwayalternatively another zigzag decline to complete wave E of (B)
Not
the alternative triangle probably will not happen, here is my short-term guessing so far Not
Not
min target could be at 58.61 where wave (C) = 0.618 wave (A), ideal target is still around $63Not
Not
Not
Not
flat for wave 2?Not
Not
break above wave 1 high of 57.86 could indicate wave 3 of (C) is underwayNot
Not
OR
Not
Wave (C) could be an ending diagonalHowever, we could still assume (C) is an impulse wave rather than diagonal and count the short-term structure as below
Not
Any close below the red wave 1 high at 57.85 would increase the odd for ending diagonal scenario, although you could still argue this is a 1-2-{i}-{ii} bullish structureNot
divergence between RSI & Price
Not
Not
triangle wave 4 ?Not
Not
or flat wave 4 followed by wave 5, wave 5 should be shorter than wave 3Not
Not
wave 5 is less likely to move beyond $64.12 ( where wave 5 = wave 3)Not
Not
almost there?Not
Not
An impulsive fall below wave {iv} low at $61.8 would suggest wave {v} of (C) is in place.Alternatively, any push above $64.06 would argue wave (C) has more bullish potential.
Not
if price move above $64.06, I would consider label red wave 3 as {i} of 3 of (C).Not
Not
There are number of different ways to count the bullish structureNot
Not
short-term count or
Not
Not
The decline was sharp, but it has not made any significant change to the overall structure yet.Not
Not
We simply need to see sharp reverse (within the lower time frame) to the upside to keep wave 4 scenario alive.If price only produce bearish sideways( or any other corrective patterns), then we could refer to the above count and sell after the breakout.
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
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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.
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
İlgili yayınlar
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.