I thought of sharing this chart because the quality and pattern are working out to be excellent for the daily , and I'm curious to see where price will end up.
The pattern is an expanding triangle.
Normally, wave E will almost break above the A-C trendline.
Wave E is the largest, typically 138% to 161.8% of wave A or wave C, but it must be slightly longer than wave C.
Wave E appears to be most likely an impulsive 5 wave move with wave 5 just beginning.
The pattern is an expanding triangle.
Normally, wave E will almost break above the A-C trendline.
Wave E is the largest, typically 138% to 161.8% of wave A or wave C, but it must be slightly longer than wave C.
Wave E appears to be most likely an impulsive 5 wave move with wave 5 just beginning.
Note
Progressing as expected, up 35% since this post was sharedTrade closed: target reached
It looks like the rally is over due to the pullback, which was stronger than waves 4 and 2. This gives me confirmation. Expect a big move to the downside soon.Note
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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.