my target area is near the lower yellow dash channel line
Nota
short-term target for wave iii or c Nota
idealised possible wave (4) patterns Nota
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flat c or running triangle c ? Nota
5880 is the level to keep bull alive, preferred count in white, alter in yellowNota
possible ending diagonal for alter count Nota
look at the big picture again Nota
the ending diagonal chart might work, took a small short with tight stopNota
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still going Nota
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Dagangan aktif
took a short with a stop against recent high Nota
could be a very small degree c wave, also could be the start of a much larger degree decline Nota
Since we have an extended wave 3, I would expect a shallow wave 4 pull back, possibly around 23.6% of wave 3 at 6362, this is also near the end of wave (iv) of blue wave {5} of yellow wave 3. An immediate push above the recent high of 7036 would probably argue the extended wave 3 is still unfolding.
Nota
looks like a 5-waves decline is at its later stageIf this 5-waves is A then we should expect a B wave rally
if this 5-waves is a larger degree 1) then we should also expect wave 2) bounce
took some profit and moved my stop to breakeven for the remaining positions
A corrective rally may offer more chances to dance with bears
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yellow count suggests another modest push to complete wave v of (c) of {b}
pink count suggests (w)-(x)-(y) for {b} is done
the key level is 6937, a sharp decline below this would signal further downside potential
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if it turns out to be a triangle wave 4, we can assume the wave count like this Nota
potential reversal to the upside Dagangan aktif
short-term buy for the upsideNota
we still cannot rule out the possibility of another wave c decline in the short-termprotective stop to break-even point
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I am still inclined towards a triangle wave 4Dagangan ditutup secara manual
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structural support at 6292
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break above 7005 would suggest bullish {i }-{ii}-(i )(ii) scenario Nota
big picture Nota
we can raise our key support to blue wave (ii) low at 6819 Nota
raise key support level to wave (i) high at 7005 as blue wave (iv) correction (if happens) should not breach this level
short-term blue wave (iii) target at 7579 which is the 1.618 extension level
also note grey wave iii has traveled 2.618 times the length of grey wave i
ALTERNATIVE Count
- blue wave (i) = red wave {iii}, blue wave (ii) = red wave {iv}
- blue wave (i) = wave c of red wave {i} of an ending diagonal
- blue wave (i) = wave w of red wave {i} of an ending diagonal
Nota
The short-term pattern remains bullishrecent decline from 7227 to 7071 was in 3 waves, looks like wave iv of (iii) is in place, or at least sub wave a of iv of (iii) is done
note
- wave iv has retraced within 38%-50% range
- price briefly touched i-ii-iii trend channel then it bounced impulsively
- we can also use ii-iii-iv trend channel to project the end of wave v of (iii)
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is wave 5 in place?Bullish count in blue
Bearish count in red
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I am inclined towards this bullish count
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alt count if wave 4 is not a triangle Nota
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
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'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
Penerbitan berkaitan
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.