Clear RSI divergence on weekly frames;
Primary wave 5 is in progress
Primary wave 5 is in progress
Trade active
I expect an end of wave 5 and entire impulse to be around $180. This target is based on
- that Wave 3 is protracted and could be 1.618 * (waves 1+5)
- upper of edge of the channel (based on bottoms of waves 2, 4 and top of wave 3) should be touched by wave 5 at around this point
Will see how blue wave 5 develops and will provide an update
Note
if we close the week below $120, this would be the confirmation of wave completion (with bearish engulfing of denoted weekly candle)Note
wave 5 break-down on 1h candles
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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.