As called 2 weeks ago we would see a correctional movement. So far it has been pretty much spot on.
Now according to the path I drew it should show green tomorrow/late romorrow/in 2 days, but we could most certainly drop just below 7.4k support regions over the coming hours.
The next positive movement should take us into the next minute impulse wave (5), before we enter the real correction waves (ABC) which will most likely take us to 6.7k regions again. But after this we are in the all clear to break Ichimoku cloud, retest the first stop ( Fib 0.382 ) and then retrace before finally breaking 11.3k. This will possibly take the rest of the year to play out, but we could see 15k EOY in a steady way..
Now according to the path I drew it should show green tomorrow/late romorrow/in 2 days, but we could most certainly drop just below 7.4k support regions over the coming hours.
The next positive movement should take us into the next minute impulse wave (5), before we enter the real correction waves (ABC) which will most likely take us to 6.7k regions again. But after this we are in the all clear to break Ichimoku cloud, retest the first stop ( Fib 0.382 ) and then retrace before finally breaking 11.3k. This will possibly take the rest of the year to play out, but we could see 15k EOY in a steady way..
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Even though the drop was more deep than "expected", we should still be fine. As long as we dont drop back through the top of the triangle (6.2k).Actually this drop could be good because RSI was still very high for the moment (above 50 where we expected green again).
Now with a much lower RSI we can attempt to break the Ichimoku cloud for a second time.
This -should- mean a red day for now, but equally green soon. The 5th minute EW should then land us between ~8.7k and 9.4k (ending the 5th wave at 10k as drawn is highly optimistic).
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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.