In this video, I explain my analysis of the Nasdaq and S&P 500 chart together with Gold (the risk-off indicator).
I point out 3 main reasons why I labelled the 5-wave structure as W-X-Y-X-Z instead of 1-2-3-4-5:
1. Wave 3 overlaps Wave 1.
2. 5th Wave did not make new peak.
3. Gold structure still supports a 5th Cycle level wave higher.
Regardless of how confident we are, remember to set your stop and respect it.
Good luck!
I point out 3 main reasons why I labelled the 5-wave structure as W-X-Y-X-Z instead of 1-2-3-4-5:
1. Wave 3 overlaps Wave 1.
2. 5th Wave did not make new peak.
3. Gold structure still supports a 5th Cycle level wave higher.
Regardless of how confident we are, remember to set your stop and respect it.
Good luck!
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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.
Related publications
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.