After completed 5 waves up, we are looking lower against 6.507, to complete an ABC correction, wave (2), with possible targets 0.5-0.618 fib retracement.
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Good luck!
Hit the like button if you like my analysis and follow me for future updates!
Future updates will be posted as updates to this count.
Daily intraday updates on 1H and 4H time frame, don`t miss them!!
Good luck!
Nota
Still expecting a C wave to the downside to complete an ABC correction, wave 2.
Probably wave B will be completed soon.
Clearing 6.695 we are looking up for wave (iii)
Nota
Further, impulsive-looking price action, will add credence to the bullish scenario, and suggest wave (iii) upper is underway.
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The corrective nature of the fall from 7.347 keeps our focus down, and against this pivot, we are watching to see if wave ((2)) is underway
Nota
Against 6.454 we are looking up for wave 3, also clearing 7.154 will add more credence for an upward move
Nota
Further, impulsive-looking price action, will add credence to the bullish scenario, and suggest wave (iii) of 3 upper is underway.
Nota
Clearing 8.10 we are expecting an impulse to the upside for wave 5 as the price will stay above 7.31.
Target above 8.7
Nota
Watching for evidence the 4th wave of the 3rd wave ended at 7.45.
Against 7.347 we are looking higher for a possible 5th wave of the 3rd wave to be extended. Clearing 8.096 will add credence to the bullish reversal.
Nota
Above 6.77 we are looking higher for a 12 12 structure of the 3rd wave.
Watching for evidence the 2nd wave of the 2nd 12 structure ended at 7.28.
Zigzag correction into 0.618 fib retracement also 1:1 ratio a vs c into wave (2) of the second 12 structure. A clear break of the 7.64 pivot of the wave (4) of (c) may turn the price to the upside.
Nota
Watching for evidence wave 4 may be ended 0.382 fib retracement
Nota
As the price stay above 7.28 we'll allow for a complex correction to unfold in wave (2). Clearing 7.98 we are expecting to continue to the up, wave (3)
Nota
Above 6.68 we are looking for a 5th wave to end an impulse to the upside.
Watching for evidences wave 4th still may be unfolding
Nota
Against 7.916 we are looking down for a complex correction wave (2)
Nota
Below 7.890 we are looking to the downside for a wave (2) of ( 3).
Nota
Further, impulsive-looking price action, will add credence to a bullish scenario, and suggest wave 3 upper is underway building now wave (1) of it.
Updated the count on Link and above 7.051 we are looking to the upside to build wave (3) of wave (1) of (3).
Potential target for wave (1) of (3) is 9.5-10 zone.
Below 8.264 we are looking for a pullback wave (4) red count.,
Nota
Below 7.758 we are looking to the downside for wave (c) of ((2)) with possible target 6.61.
Nota
Below 13.338 we are looking to the downside to complete wave ((4)) from a 5 wave structure to the upside with possible target 10.463 where we have 0.382 fib retracement of wave ((3)).
We are not excluding a pullback into 0.5 fib retracement as a retest of previous break resistance.
Nota
Below 16.51 we are looking to the downside to complete wave (c) from a flat correction wave ((4)). Possible target 0.382 fib retracement of wave ((3))
Nota
Also this count is valid and Link may continue to the upside if price will keep 14.996 pivot. With a 4th wave triangle but this 4th may be from blue count.
I will keep updating this count soon as I see some changes
Nota
Triangle wave ((4)) ended and now, above 14.284, we are expecting more move to the upside to complete a five wave structure, wave ((5))
Nota
Updated wave 4 into a complex correction with wave Y a triangle because it fits better.
Flat correction as a consolidation over the broken resistance now support and above 16.581 we are looking to the upside with ongoing wave (3) with 18.108 possible target.
Nota
Link failed to move higher. Below 17.327 and clearing 14.673 we are looking to the downside to complete wave ((4)) an extended flat correction.
Posted this update with some of the tools I use to understand better how I am looking to the charts before I am posting to you. We have bearish divergences RSI and EW oscillator. Also used volume profile to see how deep may retrace this wave (((4)) and we see a confluence at the 0.5 fib retracement level of the wave ((3)). I don`t want to complicate things but hope I was clear. If you have any questions feel free to ask me and good luck!
Nota
Also we are not excluding the bullish scenario with an 12 12 structure ( marked area) with invalidation at 14.673 pivot
Nota
Bounce in the middle of the channel and between 0.5-0.618 fib retracement.
Above 15.790 we are looking for a continuation to the upside with an 12 12 scenario.
Watching for evidences if second wave 2 an expanded flat correction ended 15.790.
Nota
Below 15.776 we are looking to the downside to complete a five waves structure, wave (c) from a flat correction, wave ((4))
Nota
Above 13.640 we are looking to the upside to complete a five waves structure, wave ((5))
Nota
Above 14.210 we are looking to the upside to complete a five wave structure wave (3) of wave ((5))
Nota
Above 12.549 we are looking to the upside to complete a five wave structure, wave ((5)) with possible target 20 USD
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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.