$MU EW Count
If my count is correct, we just ended the C leg (hit 61.8% wave A extension) of a zig zag. Started a small long position on the channel and subwave (iv) break, 50 day RSI bounce, 2H MACD crossover, 61.8% wave 3 retracement and 4H 55EMA bounce.
In this count, wave 1 and 3 hit a perfect 1:1 extension, so I'm expecting an extended fifth wave. My target zone is the purple rectangle, while the blue one has the highest probability.
My guess is 88.5 by the end of the year, a January rally to 100 and then a correct.
In this count, wave 1 and 3 hit a perfect 1:1 extension, so I'm expecting an extended fifth wave. My target zone is the purple rectangle, while the blue one has the highest probability.
My guess is 88.5 by the end of the year, a January rally to 100 and then a correct.
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.