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Expecting wave 5 to reach a new high

195
interesting facts:
  • wave 3 equals approximately 4.236 times the length of wave 1
  • wave 4 has retraced approximately 50% of wave 3 it also ended near the lower line of the blue trend channel (connecting end of wave 1, 2 &3 to draw)


Note
wave 4 could take a more complex formation such as triangle (very common structure for wave 4), but it probably won't stop bulls grinding for another new high in the next few months time
Nota
syot kilat
Nota
The anticipated wave 4 is getting slightly larger than I thought, but still valid as long as price hold above wave 1 high at $57.22

Note
sub wave {c} of 4 has already hit the 71.37 (where wave {c} = wave {a})
we can also see divergence between price & technical indicators, e.g. RSI, MACD
Nota
syot kilat
Nota
It seems that the internal structure has completed the 5-3-5 zigzag, but we still need to see an initial impulsive rally to boost our confidence that the recent low of $66.46 is the end of wave {c} of 4

The good news is Guppy-EMA is turning bullish signal. Let's see if price can break the trend line first.
wsbza
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'


Email：info@ewc.space
Juga pada:
correctivewaveElliott WaveFibonacci ExtensionFibonacci RetracementimpulsewaveimpulsiveTrend AnalysistrendchannelsupportWave Analysis

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correctivewaveElliott WaveFibonacci ExtensionFibonacci RetracementimpulsewaveimpulsiveTrend AnalysistrendchannelsupportWave Analysis
wsbza
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'


Email：info@ewc.space
Juga pada:

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.