Looks like B of primary ABC correction is developing into a running triangle. The current wave "e" of triangle B should end around a .618 retracement of A, so approximately 109. Then primary C will kick in for a nice long ride until C equals A at/near primary 4 in price, around 140.
At that point, the cycle degree correction of the last few years should continue with a large 5 wave cycle wave C down significantly below lows in recent years. Most likely lasting 4 years and dropping to a .618 retracement of the previous cycle degree rally.
At that point, the cycle degree correction of the last few years should continue with a large 5 wave cycle wave C down significantly below lows in recent years. Most likely lasting 4 years and dropping to a .618 retracement of the previous cycle degree rally.
Note
d circle surprised me with another 3 wave sub-division making d circle the most vexing wave of the triangle. e circle, then, is moved out the line to meet the current drop at about 111 before reversing higher in C, completing the larger ABC correction...still looking for C to end at or above 140
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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.