The biggest risk to this chart is labeling the leading diagonal as ABC of Wave of 1 instead of Wave 1. If the ABC is in fact Wave 1, then Wave 3 peaked at $1.50 and Wave 5 at $2.50 and the local top has been reached.
Not financial or trading advice. Let me know what you think.
Not financial or trading advice. Let me know what you think.
Comment:
Wave complete. Adjusted start of Wave 1 to the 10/20 EMA cross.
Fib levels with new starting point:
- Wave 1 peak at $1.5150
- Wave 3 peak just below the 2.618 fib level of Wave 1
- Wave 5 peaks at 1.236 fib of Wave 1 length from .382 retrace.
Wave complete. Adjusted start of Wave 1 to the 10/20 EMA cross.
Fib levels with new starting point:
- Wave 1 peak at $1.5150
- Wave 3 peak just below the 2.618 fib level of Wave 1
- Wave 5 peaks at 1.236 fib of Wave 1 length from .382 retrace.
ABC is supposed to be end where the A currently resides. ABC is a wave 1 for the 5 minor waves leading up to the actual Wave 1 in yellow.