Note
1. Price achieved the 61.8% projection instead of 100%. 2. Although price did not break 70.66, price did not close above 71.39 (top of wave 1) at Daily tf. That is a sign that the retracement toward 70.99 yesterday is not wave 4 as mentioned in my previous post. Therefore, I have revise my wave count. Wave 4 indeed had started.
3. I think we are in the subwaves abc of wave B going down for wave 4.
4. This Monday, subwave c of wave B should be concluded at one of the white fibo levels on the right. Higher probability target is at the 100% or 161.8%.
Note
CORRECTION: For Alternative Wave Count 2, after Z (in yellow circle), the plot shouldn't be (A)(B)(C) in turquoise colour. It should be impulsive 12345.
It all depends how high the price will go. Tomorrow we'll need to check the Daily and 4H candle also.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.