📊 Current Wave Count:
Wave 1 (Complete): Rally from [Low Price] to [High Price].
Wave 2 (Corrective): Pullback to [Price] (held 50%/61.8% Fib).
Wave 3 (Extended): Strong impulse to [Recent High].
Wave 4 (Corrective): ABC pattern ending near [Support Level] (e.g., 38.2% Fib of Wave 3).
🎯 Wave 5 Projection:
Target: Typical 0.618–1.0 extension of Wave 1-3 → $[Target Price].
Invalidation: Break below Wave 4 low ($[Critical Support]).
📈 Why Now?
Wave 4 completed as a shallow correction (flat/triangle).
MACD/RSI shows bullish divergence on lower timeframes.
Fundamental drivers (e.g., Fed dovishness, inflation) align.
⚡ Trading Plan:
Entry: Near current pullback (~$[Entry Zone]).
Stop Loss: Below Wave 4 low.
Take Profit: Scale out at 0.618 and 1.0 extensions.
Wave 1 (Complete): Rally from [Low Price] to [High Price].
Wave 2 (Corrective): Pullback to [Price] (held 50%/61.8% Fib).
Wave 3 (Extended): Strong impulse to [Recent High].
Wave 4 (Corrective): ABC pattern ending near [Support Level] (e.g., 38.2% Fib of Wave 3).
🎯 Wave 5 Projection:
Target: Typical 0.618–1.0 extension of Wave 1-3 → $[Target Price].
Invalidation: Break below Wave 4 low ($[Critical Support]).
📈 Why Now?
Wave 4 completed as a shallow correction (flat/triangle).
MACD/RSI shows bullish divergence on lower timeframes.
Fundamental drivers (e.g., Fed dovishness, inflation) align.
⚡ Trading Plan:
Entry: Near current pullback (~$[Entry Zone]).
Stop Loss: Below Wave 4 low.
Take Profit: Scale out at 0.618 and 1.0 extensions.
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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.