wave (4) is under way ?

Mis à jour
my target area is near the lower yellow dash channel line
Note
short-term target for wave iii or c snapshot
Note
idealised possible wave (4) patterns snapshot
Note
snapshot
Note
flat c or running triangle c ? snapshot
Note
5880 is the level to keep bull alive, preferred count in white, alter in yellow
snapshot
Note
possible ending diagonal for alter count snapshot
Note
look at the big picture again snapshot
Note
the ending diagonal chart might work, took a small short with tight stop
Note
snapshot
Note
still going snapshot
Note
snapshot
Note
snapshot
Transaction en cours
took a short with a stop against recent high snapshot
Note
could be a very small degree c wave, also could be the start of a much larger degree decline
snapshot
Note
Since we have an extended wave 3, I would expect a shallow wave 4 pull back, possibly around 23.6% of wave 3 at 6362, this is also near the end of wave (iv) of blue wave {5} of yellow wave 3.
An immediate push above the recent high of 7036 would probably argue the extended wave 3 is still unfolding.
snapshot
Note
looks like a 5-waves decline is at its later stage
If this 5-waves is A then we should expect a B wave rally
if this 5-waves is a larger degree 1) then we should also expect wave 2) bounce
snapshot
took some profit and moved my stop to breakeven for the remaining positions
A corrective rally may offer more chances to dance with bears
Note
snapshot
Note
snapshot
yellow count suggests another modest push to complete wave v of (c) of {b}
pink count suggests (w)-(x)-(y) for {b} is done

the key level is 6937, a sharp decline below this would signal further downside potential
Note
if it turns out to be a triangle wave 4, we can assume the wave count like this snapshot
Note
potential reversal to the upside snapshot
Transaction en cours
short-term buy for the upside
Note
we still cannot rule out the possibility of another wave c decline in the short-term
protective stop to break-even point
snapshot
Note
snapshot
Note
I am still inclined towards a triangle wave 4
Trade fermée manuellement
Note
snapshot
structural support at 6292
Note
break above 7005 would suggest bullish {i }-{ii}-(i )(ii) scenario snapshot
Note
big picture snapshot
Note
we can raise our key support to blue wave (ii) low at 6819 snapshot
Note
snapshot
raise key support level to wave (i) high at 7005 as blue wave (iv) correction (if happens) should not breach this level
short-term blue wave (iii) target at 7579 which is the 1.618 extension level

also note grey wave iii has traveled 2.618 times the length of grey wave i

ALTERNATIVE Count
- blue wave (i) = red wave {iii}, blue wave (ii) = red wave {iv}
- blue wave (i) = wave c of red wave {i} of an ending diagonal
- blue wave (i) = wave w of red wave {i} of an ending diagonal
Note
The short-term pattern remains bullish
recent decline from 7227 to 7071 was in 3 waves, looks like wave iv of (iii) is in place, or at least sub wave a of iv of (iii) is done

note
- wave iv has retraced within 38%-50% range
- price briefly touched i-ii-iii trend channel then it bounced impulsively
- we can also use ii-iii-iv trend channel to project the end of wave v of (iii)

snapshot
Note
snapshot
Note
is wave 5 in place?
Bullish count in blue
Bearish count in red
snapshot
Note
snapshot
Note
snapshot
I am inclined towards this bullish count
Note
snapshot
Note
alt count if wave 4 is not a triangle snapshot
Note
snapshot
Chart PatternsTrend AnalysisWave Analysis

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'


Email:info@ewc.space
Aussi sur:

Publications connexes

Clause de non-responsabilité