Also see the Weekly chart from today.
B waves often have a Fibonacci relationship to the A wave. You can see the recent daily top is just short of the .618 retraction. The B wave top may be in or could be a little more rise to the actual .618 level. There is a W base short term. If price pops above the lid of the W we may see a measured move up as indicated by the vertical arrows on the second chart. Of course it could always keep going up. All of this is just a plausible guess but it helps me anticipate when to take a position if it works out.
Hope this is helpful to you or at least interesting.
Take care. Feedback always appreciated.
B waves often have a Fibonacci relationship to the A wave. You can see the recent daily top is just short of the .618 retraction. The B wave top may be in or could be a little more rise to the actual .618 level. There is a W base short term. If price pops above the lid of the W we may see a measured move up as indicated by the vertical arrows on the second chart. Of course it could always keep going up. All of this is just a plausible guess but it helps me anticipate when to take a position if it works out.
Hope this is helpful to you or at least interesting.
Take care. Feedback always appreciated.
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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.
Related publications
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.