user100000

user100000

Wave III is never the shortest wave. In this case, 80K is the minimum level

user100000

I believe we are still in a contracting triangle. it is just going to take some more time to complete the (D) and (E) waves

user100000

I updated the chart. hopefully 24K by august

user100000

market found support at the A-C trendline hopefully the zigzag has completed e-waves often under-shoot or over-shoot the A-C trendline. if it does over-shoot it must not exceed C cycle III target adjusted to 89,000 on Feb 5 2019 (the channel depends on where the E wave/primary 4 ends) im also reducing the triangle's thrust target to 25,000 due to wave (E) price action

user100000

I think wave (E)'s zigzag is nearly complete. double bottom or slightly lower for sub wave (v) it is often the case wave one equals wave five (7152)

user100000

This is my other wave count of wave (E). No diagonal C wave here. Please note wave E must be a zigzag so there isn't many options to choose from. The structure is 5 waves down, 3 waves up, another 5 down (5-3-5)

user100000

the duration of both corrections primary 2 and 4 are exactly 157 days today see the highlighted areas in green amazing... is wave (E) complete? we shall see in the next few days

user100000

just a minor update/correction of wave count for the 2h chart. basically the market cannot dip below the red box. 7618 is the down side limit because wave v must be shorter than wave iii for the C wave ending diagonal

user100000

this is the usual way of measuring the triangles thrust target. measure vertically from the origin to the dashed A-C line. that gives us about 28K. that's a good level for wave (1)

user100000

the dip below the i-iii line is called a throw-over. wave v often ends before touching the dashed line or in this case beyond the dashed line (throw-over). wave (E) seems to be complete. we may have one final fifth sub wave of (c) slightly lower (see 30min chart) but this is it. primary wave 5 should start shortly

user100000

i wasn't too happy with the shape of the diagonal i posted earlier. this one here is more likely a better count and has the right "look" one more low coming up for the final fifth wave of this ending diagonal (wedge shape)

user100000

the C wave seems to be an ending expanding diagonal. that's why there was overlap between i and iv the minimum target for wave v is 8102 which it achieved already (wave v should be longer than iii in expanding diagonals)

user100000 Updated 

The first wave of primary 5 is a leading diagonal. This pattern usually is deeply retraced

user100000 Updated 

C of (D) seems to be complete as can be seen; five ways up. A 50% retracement of (D) is quite reasonable for the (E) wave. Note, primary wave (circle) 4 and primary wave 2 seem to be of similar duration as shown on the chart

user100000 Updated 

Here is another count of the triangle with the (D) wave still under way

user100000

I believe wave (D) is "in." note the fifth sub wave cannot be larger than the third sub so that put a cap on the move higher (because the third wave cannot be the shortest) Expecting wave (E) to retrace 50% to 61.8% of (D). The triangle is almost complete.

user100000

Wave C of (D) is under way. Wave (D) should end anywhere below 11688 for a contracting triangle

user100000

I believe the (C) wave is "in". five waves down seems clear for the C sub wave. (D) wave is likely under way. typically retracing 62% of (C)