Overview: the price action has been following our expectations flawlessly since August 11th. Let's review the update of August 20th: "I believe that market has started the third bearish zigzag , wave Z to new lows. Looking into the hourly chart, we can see that currently we are working on wave 3 of c of (I) of a of Z."
Update: there is not much to update on the count. I believe today we completed wave 3 of c of (I) of a of Z and we have started the pullback for wave 4. Since this wave has just started its development, we don't have any exact clue on where it might end, but we have one hint: wave 2 of c was a deep double zigzag , which leads to the conclusion that this wave 4 should be a shallow triangle/ flat correction . For now, I am considering 4186 as a potential target for wave 4 peak.
Update: there is not much to update on the count. I believe today we completed wave 3 of c of (I) of a of Z and we have started the pullback for wave 4. Since this wave has just started its development, we don't have any exact clue on where it might end, but we have one hint: wave 2 of c was a deep double zigzag , which leads to the conclusion that this wave 4 should be a shallow triangle/ flat correction . For now, I am considering 4186 as a potential target for wave 4 peak.
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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.