Hi traders,
Overview: the best thing to say on this update is a sentence of my yesterday's idea: "I see wave (III) of c of X completed. Now, we should head lower to complete wave (IV) of c of X and then final push to complete wave X. Since wave (II) of c of X has been a deep zigzag correction, wave (IV) is most probably a shallow flat/triangle type of correction. A potential bottom point for wave (IV) can be 4065 area".
Update: exactly as expected, wave (IV) started developing as a flat correction and right now, we are in leg c of (IV). Potential targets for wave (IV) bottom (4065-4080):
From higher to lower degree waves:
1) Wave (IV) retracement of wave (III): 4067.5
2) Wave c ratio to wave a of (IV): 4071.25, 4082.5 and 4089.25
Overview: the best thing to say on this update is a sentence of my yesterday's idea: "I see wave (III) of c of X completed. Now, we should head lower to complete wave (IV) of c of X and then final push to complete wave X. Since wave (II) of c of X has been a deep zigzag correction, wave (IV) is most probably a shallow flat/triangle type of correction. A potential bottom point for wave (IV) can be 4065 area".
Update: exactly as expected, wave (IV) started developing as a flat correction and right now, we are in leg c of (IV). Potential targets for wave (IV) bottom (4065-4080):
From higher to lower degree waves:
1) Wave (IV) retracement of wave (III): 4067.5
2) Wave c ratio to wave a of (IV): 4071.25, 4082.5 and 4089.25
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.