Siemens - 5 waves done?
Had mentioned in earlier analysis of siemens that a 5 waver is done here. Details below
Siemens has either completed 5 waves in its move from 2250 or late stage 5th. Hence the long exit/ sell
on weekly too it is likely completing a much larger timeframe 5 waves if my counts are correct
Siemens has either completed 5 waves in its move from 2250 or late stage 5th. Hence the long exit/ sell
on weekly too it is likely completing a much larger timeframe 5 waves if my counts are correct
Note
With the atock likely having completed its 5th up last friday, likely targets on the downmove are1) 38.2% retracement - 2657
2) 50% retracement - 2560
3) 61.8% retracement - 2463
Note
Last week's high is still holding. Very range bound action for last few days. Time for bears to show their hand or the 5th has more sub waves to a bit higher level. All that said risk reward for longs is extremely poor here
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.
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.