Wave 2 is complete. If the $9071 price level holds, lets' look for a price movement toward at least the length of wave 1 near the $11,800 price level. We should see this is 5 waves. If this count is correct, this would be a 6:1 risk/reward relationship. The $11,800 price or 1.382 fib lines-up with previous resistance from (July 12, 2019)
Time frame: I don't know. I was surprised at the long time it took wave 2 to complete. It's either going to be quick and impulsive move; few days, or possibly an ascending triangle taking a week or more.
Time frame: I don't know. I was surprised at the long time it took wave 2 to complete. It's either going to be quick and impulsive move; few days, or possibly an ascending triangle taking a week or more.
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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.