Hello investors and traders,
If we consider the July Low as a triangle in Intermediate Blue 4, and the next move just minor 1 red of intermediate 5 complete, we should see a deep correction to complete minor red 2.
The market seems to create a double zigzag correction with a wave X as a triangle.
With a projection of 1.618 from wave 2 red (around 0.618 of wave 1 red) "to be complete", the current target is $8.5
What's your target?
If we consider the July Low as a triangle in Intermediate Blue 4, and the next move just minor 1 red of intermediate 5 complete, we should see a deep correction to complete minor red 2.
The market seems to create a double zigzag correction with a wave X as a triangle.
With a projection of 1.618 from wave 2 red (around 0.618 of wave 1 red) "to be complete", the current target is $8.5
What's your target?
Note
It seems like the triangle has been completed. I don't think the spike down can be considered wave C. I honestly didn't check on other exchanges.
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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.