If my EW analysis is correct, then we are heading to around 4400. This gives us 78.6% retracement of wave 1, and makes a = c for the zigzag. The channel line is also matching this scenario,
This is by no means any advice for buy/sell.
Please do leave feedback on your thoughts.
This is by no means any advice for buy/sell.
Please do leave feedback on your thoughts.
Note
I was also thinking that wave a doesn't necessarily have to be equal wave c. Other possible reversal points might be 7200 (61.8%) and 5900 (78.6%). If it's 61.8%, then we might already be close to the end of the correction. (I must admit that it doesn't seem like it at this point).
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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.