Price technically speaking has a full 5 waves with this latest move higher off the $240 low. I don't believe the micro-waves 4 & 5 are done yet though. MACD has reversed and looks to be heading down now, so I think that wave 4 will be kicking off starting Monday. Technically speaking, thus pattern could be complete, but my gut tells me that it is not. It is already overextended as it has breached the 0.854, but I still believe this is intermediate (B) due to the preceding price action.
In short, my primary is we get a slight move lower for 4 and then another slight high for 5 of v of C of (B). The ALT is that we head lower from here kicking off (C).
In short, my primary is we get a slight move lower for 4 and then another slight high for 5 of v of C of (B). The ALT is that we head lower from here kicking off (C).
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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.