In this updated chart, I’m highlighting what appears to be a macro 5-wave structure based on Elliott Wave Theory: Here’s the breakdown:
1. Wave 1 starts from a low point and pushes up strongly, initiating the trend.
2. Wave 2 corrects back but does not fully retrace Wave 1, maintaining the overall upward trend.
3. Wave 3 is a powerful impulsive wave that surpasses Wave 1’s high, as expected in Elliott Wave theory.
4. Wave 4 is a corrective phase, with a shallower retracement compared to Wave 2.
5. Wave 5 is currently unfolding, moving upward and potentially marking the final push in this trend before we enter a larger correction or a reversal.
The next step would be to watch for signs of an A-B-C corrective wave once Wave 5 is completed.
Thoughts?
1. Wave 1 starts from a low point and pushes up strongly, initiating the trend.
2. Wave 2 corrects back but does not fully retrace Wave 1, maintaining the overall upward trend.
3. Wave 3 is a powerful impulsive wave that surpasses Wave 1’s high, as expected in Elliott Wave theory.
4. Wave 4 is a corrective phase, with a shallower retracement compared to Wave 2.
5. Wave 5 is currently unfolding, moving upward and potentially marking the final push in this trend before we enter a larger correction or a reversal.
The next step would be to watch for signs of an A-B-C corrective wave once Wave 5 is completed.
Thoughts?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.