After an awesome last few months, the parabolic rally appears broken and the 5 waves also seem done
The reason for the extraordinary performance is that we had an extended 5th wave (green) which in turn had its blue 5th subwave again extended. No wonder the price went up 90 degrees
But this also means the correction will also be hard and I'm expecting a drop to
1. 0.382 Fib (50%)
2. 200DMA + 0.5Fib (65%)
3. Blue subwave2 or 0.618Fib area
Take care
The reason for the extraordinary performance is that we had an extended 5th wave (green) which in turn had its blue 5th subwave again extended. No wonder the price went up 90 degrees
But this also means the correction will also be hard and I'm expecting a drop to
1. 0.382 Fib (50%)
2. 200DMA + 0.5Fib (65%)
3. Blue subwave2 or 0.618Fib area
Take care
Note
Macro look
Note
Expected a drop to 0.382Fib for 50% and we got it
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twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
Related publications
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.
Follow me for more updates
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
Related publications
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.