next stop ~9400?
Updated
If my EW count is correct then the ABC correction of the first 5 waves up has ended and now we should go to ~ 9.4K.
Note
For me, a break with volume above 8.4k is a buy signal.Note
If i am right then this scenario is very bullish because wave 2 (the ABC correction) did not even touch the 0.382 level.Trade active
9k potential target but i'll probably take profit at 8.9k. My stop loss is at 8.3k.Note
We are now forming the 3rd wave of the 5 waves up to ~ 9400 (or higher?!). The 2nd wave retraced very little so according to EW theory the 4th wave should retrace a lot more so this is the reason why i will close my trade and i will not keep it active until the end of the 5th wave. Assuming i am right, wave 4 should retrace to the high of wave 1 which should be a good buying opportunity.Trade closed manually
I closed the trade early because i don't think we will go above 8.7k anymore.Note
My count is wrong. I now believe that the 5 five waves up end at 8712 and not at 8465, like i drew them. I will post an updated chart when see a possible end of the ABC correction that we are in right now.
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