■Outlook of DJI on 1-Day chart.
I think that we are on sub-wave 5 of "wave ⅴ" shown as Orange-line.
probably, The sub-wave of "wave ⅴ" is "Diagonal".
All sub-waves of this diagonal are 3 waves.
Wave 5 of Diagonal will be completed after exceeding the high of Wave 4 (36,566) and at the Same time wave (iii) on the upper degree will be completed.
Next is wave (iv) (shown as purple-line).
If the assumption is correct, the target of the wave (iv) is as follows.
1. Closing price of sub-wave iv, 33,272
2. 38.2% Fibo level of wave (ⅲ), 32,352
3. Acceleration channel touch
In this scenario, the stop loss level is 38,920.
The overview looks at last time my idea.
■Last time my idea, Dec 19;
I think that we are on sub-wave 5 of "wave ⅴ" shown as Orange-line.
probably, The sub-wave of "wave ⅴ" is "Diagonal".
All sub-waves of this diagonal are 3 waves.
Wave 5 of Diagonal will be completed after exceeding the high of Wave 4 (36,566) and at the Same time wave (iii) on the upper degree will be completed.
Next is wave (iv) (shown as purple-line).
If the assumption is correct, the target of the wave (iv) is as follows.
1. Closing price of sub-wave iv, 33,272
2. 38.2% Fibo level of wave (ⅲ), 32,352
3. Acceleration channel touch
In this scenario, the stop loss level is 38,920.
The overview looks at last time my idea.
■Last time my idea, Dec 19;
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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.