Its been almost a month that I highlight a target point between 3k-4.5k. At first it wasnt clear how it gonna be use and in which pattern and time frame
- Target (reviewed) : 3k-4.5k
- Pattern : ABCDE correction. 1D centerline crossover. 1D signal center line crossover . 1D signal crossover (projected). Weekly conversion line under base line. Fibonacci full retracement at 3.5k.
- Factors of validation/invalidation : 1D stay under signal. 1D stay under centerline. Price staying in the spectrum.
- Opinion : the only logical scenario. No more alternative count (it doesnt exclude bounce but nothing major). Honestly it would take some magic to reverse the at our level
1) hourly - Trend line with transposed count of the weekly chart with median price trend pointing toward a landing zone near 4k
2) daily - original post - ABCDE correction with fibonacci retracement
3) weekly - ABC retracement with (under the signal) and retracement
I have an idea about the wave count but i will let some time past to have more data which will make a more precise projected wave count. Stay tuned.
End point = green square
Bounce target = 7225
I have some doubt that i might overestimate the bounce
I revisited the form and i have this count. I have simplified the count. If the support (upper white line) is break then it should end at the next support ending the 5th wave
Will make a fresh post tomorrow. tired for tonight. I have 2 scenario in my head and will wait for more data to discern better. Cya tomorrow.