Road to $5.2K
My prediction has little bit difference, compared w/ other traders perspective.
This difference comes from EW counting of part below:
That means, we just have finished (b) and, going down to (c) point
[r-HS pattern perspective]
Even if it retraced almost 0.618 fib level (which is $3,565), right shoulder is too small compared with left one.
Bulls tried to hold this trend line, more than 3 times, but now it break down 4th of the time, which is not a good signal for bulls.
It failed to break up red cloud in 4hr frame.
So, my final target point is $5,200+ but I am waiting for retrace to the $3,200
This difference comes from EW counting of part below:
That means, we just have finished (b) and, going down to (c) point
[r-HS pattern perspective]
Even if it retraced almost 0.618 fib level (which is $3,565), right shoulder is too small compared with left one.
Bulls tried to hold this trend line, more than 3 times, but now it break down 4th of the time, which is not a good signal for bulls.
It failed to break up red cloud in 4hr frame.
So, my final target point is $5,200+ but I am waiting for retrace to the $3,200
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.
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.