LONG 4HR Wave Count Possibilities

29 Jun

Using the Weekly time frame, Wave 1+3 of a larger degree shows a possible extension to the 1.68 extension which is a common wave 5 of a larger degree target . That Price Target being $26.35.

In April of this year the price reacted to a Reversal Pivot Point but failed to form a proper impulse for wave 1. Price then gapped above the price resistance line for the year of 2025 and the 100 WMA.

As of now, price is expect to target $19.43 in a move to finish out wave 3 of a macro degree. Wave 4 typically retracing to the 0.236 or 0.382 level has been displayed to align with the current uptrend trendline.

I have also displayed the possible points of interest for Fib levels for an approach to finish out wave 5 of a macro degree. I expect Price to stall and face resistance in the golden pocket extension of the Fib levels.

None of this is financial advise and strictly for educational purpouses.

5 hari lalu

Dagangan aktif

I am watching here closely to see where wave 3 could possibly be ending to give a wave 4 potential target. Once i see wave 4 potential i will update. Until then i recommend trimming any long positions with July expiration's as this run has created plenty of gains for all who entered around the time of the post.