Hi traders
we might be an ending diagonal which will end soon..
if you measure yourself, the first WXY up move (macro Wave I of the potential ending diagonal) have perfect ratio of X=50% of W. The same is true for the second WXY (macro wave II)
Since, in every 5 wave structure, the 3rd wave III, can't be the shortest. In this case, since wave III is shorter than wave I (almost exactly, the 50% of wave I),
I conclude that wave V have to be shorter than wave III (if the count is correct :)
in this case, I would imagine wave V to be 0.786 of wave III, which means that we might be very close to a potential massive retracement
please feel free to disagree and explain why, in case
I would love to be proved wrong: that would save me from a big loss :)
HAPPY TRADING
P.S THIS IS JUST FOR FUN.. THIS IS NO FINANCIAL ADVISE
we might be an ending diagonal which will end soon..
if you measure yourself, the first WXY up move (macro Wave I of the potential ending diagonal) have perfect ratio of X=50% of W. The same is true for the second WXY (macro wave II)
Since, in every 5 wave structure, the 3rd wave III, can't be the shortest. In this case, since wave III is shorter than wave I (almost exactly, the 50% of wave I),
I conclude that wave V have to be shorter than wave III (if the count is correct :)
in this case, I would imagine wave V to be 0.786 of wave III, which means that we might be very close to a potential massive retracement
please feel free to disagree and explain why, in case
I would love to be proved wrong: that would save me from a big loss :)
HAPPY TRADING
P.S THIS IS JUST FOR FUN.. THIS IS NO FINANCIAL ADVISE
Comment:
wave 5 circled blue was a truncation. .are we going down for good ?