After a lot of contemplation, I think this is what we're going to see.
We have a very clean back test of the bearish channel - and we've a clear algo target sitting over head at 4068.50
What we have here on a larger degree is an irregular flat... Which is a 3-3-5 correction
-Wave A was a w-x-y for the initial "covid crash" last year.
-Wave B is what we're currently working on, though I'm having trouble calculating the upside target for where it ends, due to all of this artificial money printing.
-Wave C will be 5 impulse waves down to 100~123.60% retracement level when measuring the distance between A and B.
The upcoming wave C will mark the end of this wave 4 correction, and we will finally be able to start a real impulse move up into the years ahead to finish wave 5 on the highest degree.
Ps. will sell my shorts tomorrow & continue playing the long side awhile longer.
We have a very clean back test of the bearish channel - and we've a clear algo target sitting over head at 4068.50
What we have here on a larger degree is an irregular flat... Which is a 3-3-5 correction
-Wave A was a w-x-y for the initial "covid crash" last year.
-Wave B is what we're currently working on, though I'm having trouble calculating the upside target for where it ends, due to all of this artificial money printing.
-Wave C will be 5 impulse waves down to 100~123.60% retracement level when measuring the distance between A and B.
The upcoming wave C will mark the end of this wave 4 correction, and we will finally be able to start a real impulse move up into the years ahead to finish wave 5 on the highest degree.
Ps. will sell my shorts tomorrow & continue playing the long side awhile longer.
