Calm Before the Storm
Based on JK Channeling Technique, Wave 4 is near the completion as it is currently trading near the upper acceleration channel.
If EW is correct, we'll be placing an initial position 35K Level and full position at 33K which is the break of D wave of the triangle with stop loss at 37.8K
Conservative Target is 23K about 30% downside assuming terminal Wave 5 is .382% of the full down leg.
Stretched target is near $0 assuming terminal Wave 5 is .618% of this wave degree. Wow!!! This is ridiculous!!
If EW is correct, we'll be placing an initial position 35K Level and full position at 33K which is the break of D wave of the triangle with stop loss at 37.8K
Conservative Target is 23K about 30% downside assuming terminal Wave 5 is .382% of the full down leg.
Stretched target is near $0 assuming terminal Wave 5 is .618% of this wave degree. Wow!!! This is ridiculous!!
Note
Wave 5 starting to unfold.. i'm seeing potential extended wave 1 of the immediate wave 5...
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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.