As we can see on 4H BA form a nice pattern price will close its first Gap at 217.24 . breaking (B) at 221.7 as its first target. 2nd target will be 230-235 and more
Additionally, there is an island bottom off the 7/19 low, and today's gap up but so far hasn't closed the gap down from 7/12 to 7/13, the high of 7/12 was 240.77, today's high 237.49 could be a failure to close and the high of the move, or it just needs more work to the upside, until then it fell as much as 6.16 from today's high and didn't close much above that low.
4xtrend
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@pechi123, This idea was published on the 21st, and it hit the first (221.7) and second targets (235), and It is still valid in my own opinion for further targets as it closed the gaps.
I NOTE, it is not a recommendation.
I am trying to draw and publish according to my own chart reading and views, you may not agree with me, or you may have a different approach so, I hope to see your chart.
pechi123
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You drew something that vaguely resembles a bearish contracting triangle with A & C at tops, but you're bullish? What pattern has labeling A-D, missing E for a triangle...don't get it.
jsmith8888
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Is it just me, or did anyone else see a head and shoulders as soon as they opened this chart?
pechi123
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@jsmith8888, I see a 5 wave move from March 2020 lows, then a double ZigZag with an X wave where he labels C, or A-B-C of W, X, A-B-C of Y