Bullish Breakout

Price has already broken the (B)-(D) trend line, I think the blue primary wave 5 is likely under way

Note

The long term structure

Primary wave 3 is a clearly extended wave, Primary wave 5 would be less likely to extend (although still possible).
We also know wave 4 often divides the entire impulse wave into Golden Section. When wave 5 is extended, this ratio is 0.618; when wave 5 is not extended, this ratio is 0.382.
Therefore, we could set $148 (approximation) as our initial target.

Note

The alternative count argues Primary wave 4 has finished at 83.01. Primary wave 5 may take a formation of an ending diagonal. This count also suggests few more higher highs to come, but with greater volatility.

Note

Looks like a diagonal is in the making

Note

wsbza

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'

Email：info@ewc.space

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wsbza

'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'

Email：info@ewc.space

Also on: