Two scenarios:
1. Finished an ABC countertrend (pink) and are heading for 5800.
2. In the process of a larger A wave (teal) and will terminate around 6800 before heading down to 5800.
1. Finished an ABC countertrend (pink) and are heading for 5800.
2. In the process of a larger A wave (teal) and will terminate around 6800 before heading down to 5800.
Note
It seems scenario 2 is playing out.We may have just finished wave B with a flat (3-3-5) and are on track to 6800.
Note
6800 reached.
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.
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.