After the 5 wave til the top of Dec '17, we are in a correction. Unlike many, I believe the correction is still not over, I'm considering 2019 rally as a bull trap and a typical B wave in EW
I expect the correction after a 5 wave to go till 50% retracement or 0.618 Fib. 50% retracement here also gives A:C = 1:1 which is textbook and also as the bottom of the red channel
Looking at inverted chart this looks like a perfect V bottom reversal
This idea is not brand new, I posted a similar observation 2.5 months back
I expect the correction after a 5 wave to go till 50% retracement or 0.618 Fib. 50% retracement here also gives A:C = 1:1 which is textbook and also as the bottom of the red channel
Looking at inverted chart this looks like a perfect V bottom reversal
This idea is not brand new, I posted a similar observation 2.5 months back
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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.