Currently on a flat ABC correction for the X wave. Its kinda early to be sure if this is gonna be an ending diagonal + truncated C wave or an impulsive one. The current structure favors both scenarios so a short term uptrend is expected.
As long as it doesnt make a HH than point 1, its on its way for the 5th wave down. Fib ratios do favor that count but its not very clear from the internal structure.
As long as it doesnt make a HH than point 1, its on its way for the 5th wave down. Fib ratios do favor that count but its not very clear from the internal structure.
Trade closed: target reached:
Target 1. Its alive, you shorted too early.
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This could be the top for now, but i fee like its missing one more little wave, its not wise to go long up here since a short scenario is more favorable. Either way, the next impulsive move should signal the direction, if it goes up it HAS to be very impulsive for going long.
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It appears that was the high and now it will break the 3 previous lows. It was about time for the stocks to have the fear of a bubble bursting.
No further updates here.
No further updates here.
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Will be posting new idea on DJI during July taking the bigger picture into account. I still think its bearish and targeting 22.6k as a minimum.