Here's what I see for JD on W1.
Looks like it has completed a textbook 5 waves move to the downside and bottomed out slightly below the 67% fib (liquidity grab). Wave 3 had the highest volume and the EW oscillator had the highest hump at wave 3, so bascially we have already bottomed or are very very close to a bottom. The move from wave 4 down to wave 5 has created a nice "b" type volume profile with tons of volume imbalances.
Meanwhile MACD is curling up , so let's see if we can get a third touch of the trendline.
My first TP would be at around $50 and second TP at around $68 - $80.
Looks like it has completed a textbook 5 waves move to the downside and bottomed out slightly below the 67% fib (liquidity grab). Wave 3 had the highest volume and the EW oscillator had the highest hump at wave 3, so bascially we have already bottomed or are very very close to a bottom. The move from wave 4 down to wave 5 has created a nice "b" type volume profile with tons of volume imbalances.
Meanwhile MACD is curling up , so let's see if we can get a third touch of the trendline.
My first TP would be at around $50 and second TP at around $68 - $80.
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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.