Hi all,
Minor degree alternate 1 states that waves A and B have completed and that wave c is unfolding as a motive structure. If invalidated before more up movement, I shall publish either minor degree alternate 2 which states that wave C has already terminated, and/or minor degree alternate 3 which states that minor wave C is still unfolding except differently.
Here is the labelling of minor wave C subdivisions:
From the beginning, minute wave 3 pink equals exactly 3 times the length of wave 1.
Minute wave 4 pink unfolds as a perfect double three which resembles the look of a running flat except without the final 5 wave structure for wave c.
Price is currently located in minuette wave 2 green of minute wave 5 pink.
Hourly price has closed above structure resistance (broken line) yesterday, and also successfully took out the week's high at 10160, suggesting the potential for some more bullish action and the count is confirmed.
A predictive analysis that will see this count correct is if minute wave 5 pink unfolds as a contracting diagonal. A traditional motive structure is not really viable given the near proximity of the intermediate invalidation price. I will expect wave 2 of ending diagonal to be fairly deep and to unfold as a 3 before making new highs.
___________________
Confirmation = 10160 (number of candles to maintain above)
Invalidation = 9922
Target = 10315
Minor degree alternate 1 states that waves A and B have completed and that wave c is unfolding as a motive structure. If invalidated before more up movement, I shall publish either minor degree alternate 2 which states that wave C has already terminated, and/or minor degree alternate 3 which states that minor wave C is still unfolding except differently.
Here is the labelling of minor wave C subdivisions:
From the beginning, minute wave 3 pink equals exactly 3 times the length of wave 1.
Minute wave 4 pink unfolds as a perfect double three which resembles the look of a running flat except without the final 5 wave structure for wave c.
Price is currently located in minuette wave 2 green of minute wave 5 pink.
Hourly price has closed above structure resistance (broken line) yesterday, and also successfully took out the week's high at 10160, suggesting the potential for some more bullish action and the count is confirmed.
A predictive analysis that will see this count correct is if minute wave 5 pink unfolds as a contracting diagonal. A traditional motive structure is not really viable given the near proximity of the intermediate invalidation price. I will expect wave 2 of ending diagonal to be fairly deep and to unfold as a 3 before making new highs.
___________________
Confirmation = 10160 (number of candles to maintain above)
Invalidation = 9922
Target = 10315
Note
*COUNT CONFIRMED*Note
*TARGET REACHED*Note
DAX HOURY BULL (MINUTE DEGREE ALTERNATE).States: 1) Minuette 4 of minute 5 ending contracting dianal. 2) minuette 5 is underway
____________
Note
Price remains intact with the projection and the projected count. Price action perfectly fits the idea of an ending diagonal for minute wave 5 pink, exhibiting a throw-over or a brief violation of the up channel. _____________________
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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.