It appears we are in the Wave C of a corrective structure. Placing Fibs from previous low(Wave 1) to high (Wave B) and looking left to the 3rd of the 3rd wave(if I've counted this 3rd wave correctly) price should return to this area near the rectangular box near the .382 retracement fib or $95.97. Corrective wave should stay within the parallel lines toward the end of Wave C.
Honestly, I don't know how to account for the high wick as part of Wave C, but closing price stayed within the scope...so that's what I'm going with.
Honestly, I don't know how to account for the high wick as part of Wave C, but closing price stayed within the scope...so that's what I'm going with.
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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.