Overview: let's review the key points of the update I published on September 4th:
Update: I think we completed wave (B) of 3 of c of (III) before market open of today and started wave (C) of 3 of c of (III). Right now, we are in wave 3 of (C) of 3. Note that this structure is perfectly following our count expectations, but the timing of the waves is definitely not ideal. However, it reminds me of the rally we saw from Jun 17th to August 16th and I am not going to change my count until I have to do so, i.e. invalidated.
- With the price action of Friday, I think we actually completed wave (A) of 3 of c of (III).
- Then a brief pullback for wave (B) of 3 of c of (III),
- and extending lower to complete wave 3 of c of (III) of a of Z follows.
- A potential target for the completion of wave 3 of c of (III) can be the 3750 area.
Update: I think we completed wave (B) of 3 of c of (III) before market open of today and started wave (C) of 3 of c of (III). Right now, we are in wave 3 of (C) of 3. Note that this structure is perfectly following our count expectations, but the timing of the waves is definitely not ideal. However, it reminds me of the rally we saw from Jun 17th to August 16th and I am not going to change my count until I have to do so, i.e. invalidated.
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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.