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This is an update to my Last Plot of one more Dip (click).
The bounce thus far looks like a classic formation for wave 4.
Wave 4's are supposed to have structure, with 5-3-5 subwaves.
The waves and fibs indicate 9300 is likely the turning point into w5.
$ 9245-9310 is a Fib cluster and likely end of wave 4.
$ 9480-9500 possible but unlikely, unless bear scenario is wrong.
$ 9700-9726 is Bears Last Stand, and complete invalidation.
See my other last Idea for support, or drag DOWN on the price scale to see wave 5 targets.
My previous charts catching every key turn and giving early warnings (click the links below):
8.1k Retrace Target
10.5k Top call
9.7k Bounce <= mapped within $10
8.2k to 10k wave 5
9k barrier Foretold <= Warning in Time
8k ReBag in HiRes
8475 Top Call <= Mapped within $5
Sub 7k Foreseen
Big Picture Fibs <= the 3 Fibs of Life
14k target call <=Perfect TP
10k target call
3.1k bottom call <=EXACT 2018 bottom
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
We may have a "truncated" minor wave 5 (green) as in wave 5 of C of 4 , lol
Looks like red wave 4 finished and w5 started
Zoom IN (13 min) to see why it fell short a bit looks like the purple 6.236 was the top.
was anticipating the 6.618 at least.
Zoom IN more (3 min) for a closer look at the drop which leads to two observations:
1) five wave substructure implies a "wave 1 of 5"
2) purple fib is in control, with its 2.618 holding it down
- red wave 4 in original chart looks done.
- w4 fell short of target by a little bit, but close
- possible wave 1 (five part) of red 5 may be done
- wave 5 very likely under way.
the Trading View is my Nation
the Moderator Tag is my Flag
Glad to hear that this plot helped you decide on a level and what to do there.
My basic concept comes from Physics, "f=ma", "object in motion...", etc.
It is a self developed method, based on many years to trial and error
To help demonstrate this method, I have published a few Ideas where I collect examples continuously, such as this Idea That one is "Chapter 6", just posted, but the first five are linked within. Best to start with ch 1 and 2 with hundreds of snaps showing the basic concept, while the rest are studies of specific phenomenon.