Have we finished Wave 2?
most TAs agree that we finished Wave 1 at $9150.
That means that we either finished wave 2 at $8450, and we are on a wave 3; or it means we are still on a wave 2.
I have charted believing that wave 2 ended at $8450.
But... if we haven't ended wave 2, that means that wave A ended at $8450, we just finished wave B, and wave C will end around $8300 or possibly lower.
I just confirmed there are 5 waves down to from $9150 down to $8450, so it's a possibility that we are still on wave 2. How to confirm? If the price retraces below $8450, then we are for sure still on wave 2, because if we're on subwave 2 of wave 3, then subwave 2 cannot retrace below the start of subwave 1, which started at $8450.
That means that we either finished wave 2 at $8450, and we are on a wave 3; or it means we are still on a wave 2.
I have charted believing that wave 2 ended at $8450.
But... if we haven't ended wave 2, that means that wave A ended at $8450, we just finished wave B, and wave C will end around $8300 or possibly lower.
I just confirmed there are 5 waves down to from $9150 down to $8450, so it's a possibility that we are still on wave 2. How to confirm? If the price retraces below $8450, then we are for sure still on wave 2, because if we're on subwave 2 of wave 3, then subwave 2 cannot retrace below the start of subwave 1, which started at $8450.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.