Maximum target for Wave 5 is 2470.675 and Maximum target for entire wave is 2482.074
Price must overlap between these range.
September rate cut probability is 100% and price will in these days and no more big move after pricing in for September Cut.
All I see price is completing a Major 5th wave and each wave has 3 moves (abc)
An Ending Diagonal.
Price must overlap between these range.
September rate cut probability is 100% and price will in these days and no more big move after pricing in for September Cut.
All I see price is completing a Major 5th wave and each wave has 3 moves (abc)
An Ending Diagonal.
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An Ascending Channel
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As mentioned price is rejected from the maximum target of entire wave.
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If the 5th wave is completed then the recent fall was wave A of Zigzag Correction.
I4 hour chart there is 5 moves in A which is indicating a ZigZag Correction and the B wave of zigzag should not retrace more than 50%.
If it does then the wave count is invalid.
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Price is respecting the ascending channel.
If this channel is broken below, then we can expect a good correction towards any of these fibonacci level.
Remember 38.2% is the minimum target of this correction wheres 81.2% is the maximum.
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Probable wave A is done of Zig Zag correction and now price will make wave B where there will be three moves and price should not retrace more than 50%. If it does than the whole wave count will be invalid.
Remember price can show rejection from any of fibonacci level (23.60, 38.20, 50)
Formation of Zig Zag Correction is 5-3-5 (A-B-C)
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Already hit the minimum target for wave C.If price breaks the level of Wave B, then the correction is already completed and the current move is Wave 1 of the new impulse.
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I have mentioned the minimum and maximum range of this correction.
We are at the beginning of wave C which will be a downward impulse.
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Hourly Breakdown
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Only if ATH is broken...Nota
No ATH so more drop aheadNota
Either this drop is a part of correction.
How I can see the waves are happening in hourly chart.
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I am expecting price to rise towards 2440-2460 zone then a strong fall.Nota
Two scenarios are possible.Either the latest draft or the previous draft before the latest one.
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WXY = Double Correction
In W wave, there was an zigzag. After that price tried to make a new high but failed which is the Wave X.
Now price is forming a Flat Correction in Y wave.
This will not be a Y wave only if price breaks the level of X, then this will be third wave and the X will change into first wave.
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Are we preparing for a big fall???
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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.