Overview: let's review the key points of the update of previous weekend:
Update: we broke out of the descending channel, indicating that the bottom for wave 4 was in. Right now, we are in wave 4 of (C) of 5 of c of (III). Based on the structure developed so far, and the Fib ratios, I am lowering my target for wave (III) peak to ~457.
- Wave 4 has developed 2 zigzags so far and it is possible that we are already in wave 5 or develop a third zigzag in wave 4, then start wave 5.
- If wave 4 is not finished, I have 353.98 as my target for wave 4 bottom.
- If we break out of the descending red channel, we know that wave 5 is under development
- My target for wave 5 peak is ~477-481.
Update: we broke out of the descending channel, indicating that the bottom for wave 4 was in. Right now, we are in wave 4 of (C) of 5 of c of (III). Based on the structure developed so far, and the Fib ratios, I am lowering my target for wave (III) peak to ~457.
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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.