DJI seems to be in a "Minuette"-wave 3, with target 1,000 of its wave "1" (=25831), resp. "Subminuette"-wave 5 , with target 1,618 of its wave "1" (=25941). Both would give us the region for "tp?" as shown in the chart! On the way up for this possible Subminuette"-wave 5, there are further two importent targets, wher theoretically this wave could stop at: tp1: 25470, 0,618 of "Sub1" measured from the bottom of wave 4 tp2: 25650, 1,000 of "Sub1", dito
NOTE: Please keep in mind, that this whole leg, which started at wave "4" (blue), could also be part of a bigger picture as a wave "b". In this case, the following wave "c" would stop at much lower levels!
Komen
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Detailed view on 15m:
Komen
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Komen
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"Minuette"-waves are red, "Subminuette"-waves are grey and "Micro"-waves are magenta!
Komen
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Please scroll out of the chart in case you want to see the tp of the so called "bigger picture". Thx for reading!
Komen
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If you stick to the rules, there is one important thing, to be considered: The target for a wedge or pennant is 1,0, measured from the start to the first peak, added to the breakout point. This gives you an interesting tp of 26700...
So What is your final target at the end of the wave?
wolfah
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@jbsppTradingView, thx for your interest! As a daytrader, this question puzzles me everyday! As noted above, the final cycle of this wave is still open. It can be above or below
the described targets. Let's see what happens, when/if this level will be met. Thx again!