Noteworthy setup for a continuation.
For higher timeframes, there's a lot of ways to count this.
One way:
The last wave doesn't have to play out as an impulse as shown above - could just as well turn into a diag.
The same count with a short wave 5 could also be done here:
Since the subdivision of the diag looks like 3-wave moves, it could be leading or ending, so that certainly is a possibility.
Just a trendline in log:
And here's one count, that leaves quite a few more moves up:
Though the same thing applies here as in the above variations: could be a 1-2 of a wave 5, with the setup shown or the wave 5 could be done with that diag.
For higher timeframes, there's a lot of ways to count this.
One way:
The last wave doesn't have to play out as an impulse as shown above - could just as well turn into a diag.
The same count with a short wave 5 could also be done here:
Since the subdivision of the diag looks like 3-wave moves, it could be leading or ending, so that certainly is a possibility.
Just a trendline in log:
And here's one count, that leaves quite a few more moves up:
Though the same thing applies here as in the above variations: could be a 1-2 of a wave 5, with the setup shown or the wave 5 could be done with that diag.
Nota
5 min chart, so grain of salt, eh?If it delivers one more low, still same count with an expanding ending diag missing the last wave as one possibility
Nota
I just noticed that my yellow count to the top isn't valid as a diag. One could decide to ignore the slight wick-overlap of the 1/4 and accept it as an impulse, but the wave 5 would still look very 3-wave, which wouldn't work either.So with that I don't have an immediate clear outlook to the upside, which doesn't mean that it won't work out. A buy in the lower 44x was a good one either way, just saying to watch out for either a prolonged sideways movement or a continuation to the downside.
I've also shown scenarios, that had the top already in and I can probably find a few more, like this for example:
And even with that count I could see something like this which would give new highs:
It's just not as clear cut as I previously had it.
Pesanan dibatalkan
Just to finish here: the next level to look for a hold is around 400 $ (+/- 1%-2%). I'm not going to focus on / update this chart for the time being.
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.