This is one of the rare case where a 3 wave move up has a C wave extension greater than the regular 1.382/1.618.
In super-extended moves, we have seen C Waves extend to 2.0 and even 2.618 of wave A.
What determines the future move is the speed of reversal post completion of Wave C/3.
Another supporting evidence for it being a wave C and not wave 3 is that the initial moves prior to wave C was a clean Wave A i.e. a 3 wave move contained withing parallel lines, whose subwaves tended to equality.
A bull case could be made that - no it was a 1-2-i-ii and not an a-b-c within Wave A, but generally in 1-2-i-ii, the lower degree 1 is shorter than the length of the higher degree 1. Here, both waves tended to equality. Hence an argument for it being a wave A is stronger.
Now we will have to see how price behaves at prior wave 4s of lower degree. Immediate supports are offered in the range of 17150-17450, which is the range of the Wave 4 of lower degree. A corrective rise from there will confirm that we are going further lower.
Will revisit this developing idea once we are at 17150-200.
-ansible/entropy
In super-extended moves, we have seen C Waves extend to 2.0 and even 2.618 of wave A.
What determines the future move is the speed of reversal post completion of Wave C/3.
Another supporting evidence for it being a wave C and not wave 3 is that the initial moves prior to wave C was a clean Wave A i.e. a 3 wave move contained withing parallel lines, whose subwaves tended to equality.
A bull case could be made that - no it was a 1-2-i-ii and not an a-b-c within Wave A, but generally in 1-2-i-ii, the lower degree 1 is shorter than the length of the higher degree 1. Here, both waves tended to equality. Hence an argument for it being a wave A is stronger.
Now we will have to see how price behaves at prior wave 4s of lower degree. Immediate supports are offered in the range of 17150-17450, which is the range of the Wave 4 of lower degree. A corrective rise from there will confirm that we are going further lower.
Will revisit this developing idea once we are at 17150-200.
-ansible/entropy
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.