interesting facts:
Note
wave 4 could take a more complex formation such as triangle (very common structure for wave 4), but it probably won't stop bulls grinding for another new high in the next few months time
- wave 3 equals approximately 4.236 times the length of wave 1
- wave 4 has retraced approximately 50% of wave 3 it also ended near the lower line of the blue trend channel (connecting end of wave 1, 2 &3 to draw)
Note
wave 4 could take a more complex formation such as triangle (very common structure for wave 4), but it probably won't stop bulls grinding for another new high in the next few months time
Comment
Comment
The anticipated wave 4 is getting slightly larger than I thought, but still valid as long as price hold above wave 1 high at $57.22Note
sub wave {c} of 4 has already hit the 71.37 (where wave {c} = wave {a})
we can also see divergence between price & technical indicators, e.g. RSI, MACD
Comment
Comment
It seems that the internal structure has completed the 5-3-5 zigzag, but we still need to see an initial impulsive rally to boost our confidence that the recent low of $66.46 is the end of wave {c} of 4The good news is Guppy-EMA is turning bullish signal. Let's see if price can break the trend line first.
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
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