Now the last wave "e" of the huge triangle forming.
Looks like the wave 'e' coud forms as 4 possibilities:
A zigzag: now A of this zigzag comes to the end with around 8600. then goes up to 0.5-0.618 fib with B, and C will hit 7700.
Finally it will breakout to 8350+17000=25350.
A small triangle: wave a of this small triangle willl hit 8700 and finish the following wave later.
Finally it will breakout to 8600+17000=24700.
A D-zigzag: could reach 0.618-0.7 fib of wave 'D' of huge triangle.
Finally it will breakout to 6125+17000=23125
A T-zigzag: could reach 0.7-1.1 fib of wave 'D' of huge triangle.
Finally it will breakout to 3600+17000=20600.
How we choose:
1. MFI below 20 and diverges.
2. Pullback with huge volume.
3. Quarterly premium becomes negative.
Looks like the wave 'e' coud forms as 4 possibilities:
A zigzag: now A of this zigzag comes to the end with around 8600. then goes up to 0.5-0.618 fib with B, and C will hit 7700.
Finally it will breakout to 8350+17000=25350.
A small triangle: wave a of this small triangle willl hit 8700 and finish the following wave later.
Finally it will breakout to 8600+17000=24700.
A D-zigzag: could reach 0.618-0.7 fib of wave 'D' of huge triangle.
Finally it will breakout to 6125+17000=23125
A T-zigzag: could reach 0.7-1.1 fib of wave 'D' of huge triangle.
Finally it will breakout to 3600+17000=20600.
How we choose:
1. MFI below 20 and diverges.
2. Pullback with huge volume.
3. Quarterly premium becomes negative.
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.
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.