Overview: in the previous update, we had the idea that we are in wave c of (III) of c of Z of (B), but mentioned that the alternative scenario of being in wave b of Z of (B) is equally valid.
Update: based on the price action I am now favoring the alternative count as my primary. The bearish move of August 16th to Oct. 13th is considered as leg a of Z and we are now in wave b of Z. Looking into the hourly chart, wave b of Z can be a double or triple zigzag.
Potential targets for wave b peak? (~3980)
1. If we consider the retracement of wave a of Z, we have these targets: 3914.75, 3985.75, and 4012.25!
2. Based on the volume profile of wave a of Z, we have 3980.5 as the VPOC.
Update: based on the price action I am now favoring the alternative count as my primary. The bearish move of August 16th to Oct. 13th is considered as leg a of Z and we are now in wave b of Z. Looking into the hourly chart, wave b of Z can be a double or triple zigzag.
Potential targets for wave b peak? (~3980)
1. If we consider the retracement of wave a of Z, we have these targets: 3914.75, 3985.75, and 4012.25!
2. Based on the volume profile of wave a of Z, we have 3980.5 as the VPOC.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.