This is an update to my original idea posted on 6th June, while $M retraced back to 0.618 levels today - the hourly and 4 hourly formation in the first half went on very well.
However, we did not started rallying higher the same day. With this, is the idea of wave-5 to hit $11 still valid?
The idea invalidates if we close below $7.8 on a daily chart. For now, we're good - I'll post an update as well if the idea invalidates.
Our targets remain same, with TP1 being slightly lower as it was computed based on length of wave-1 and where wave-4 settles. While TP2 can be an extension based on market conditions of course.
TP1: $10.6
TP2: $10.8-11.2
What do you think about this idea? Leave your comments below.
Disclaimer: This is not a financial advice. Please make your independent decisions while making an investment.
However, we did not started rallying higher the same day. With this, is the idea of wave-5 to hit $11 still valid?
The idea invalidates if we close below $7.8 on a daily chart. For now, we're good - I'll post an update as well if the idea invalidates.
Our targets remain same, with TP1 being slightly lower as it was computed based on length of wave-1 and where wave-4 settles. While TP2 can be an extension based on market conditions of course.
TP1: $10.6
TP2: $10.8-11.2
What do you think about this idea? Leave your comments below.
Disclaimer: This is not a financial advice. Please make your independent decisions while making an investment.
Comment:
Market went below the trend line which invalidates this setup.
