$JSEEQU - Equities Prop Fund: Tracking A Leading Diagonal
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The bounce from 1036 looks to be unfolding as a leading diagonal, characterized by the overlapping waves.
Leading diagonals are common after strong sell-offs and the market has bottomed.
I will be looking at wave 5 to terminate at the same price level or above wave 3 to complete wave (1) and then monitor the pullback for wave (2) which must terminate above 1036 to validate the bullish outlook.
The bounce from 1036 looks to be unfolding as a leading diagonal, characterized by the overlapping waves.
Leading diagonals are common after strong sell-offs and the market has bottomed.
I will be looking at wave 5 to terminate at the same price level or above wave 3 to complete wave (1) and then monitor the pullback for wave (2) which must terminate above 1036 to validate the bullish outlook.
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