1st Cycle – Completed
Impulse Waves: (1) → (5)
Corrective Waves: A → B → C
Classic wave symmetry with post-correction breakout
2nd Cycle – In Progress
Wave (1) and (2) formed strong base
Wave (3) extended sharply, ends at 607
Wave (4) correction expected near 390
Wave (5) projected target: 830+
Analyst Learning Takeaways
Wave 3 typically shows strongest momentum—confirmed here with a sharp rally to 607
Wave 4 often retraces 38–50% of Wave 3, making 390 a logical support zone
Wave 5 tends to mirror Wave 1 or exceed it if sentiment and volume align
Analyst View The current wave structure suggests a healthy impulsive cycle with textbook symmetry. Wave 3 has shown strong directional conviction, and the expected Wave 4 correction toward 390 aligns with Fibonacci retracement norms. If price stabilizes above 390, it confirms buyer strength and sets the stage for Wave 5. The projected target of 830+ is based on proportional extension logic and prior cycle behavior. This setup resembles the 2014 rally, where a similar Wave 4 held and led to a breakout. Traders should monitor volume and sentiment near 390—any breakdown below this level would invalidate the bullish continuation and call for reassessment.
Impulse Waves: (1) → (5)
Corrective Waves: A → B → C
Classic wave symmetry with post-correction breakout
2nd Cycle – In Progress
Wave (1) and (2) formed strong base
Wave (3) extended sharply, ends at 607
Wave (4) correction expected near 390
Wave (5) projected target: 830+
Analyst Learning Takeaways
Wave 3 typically shows strongest momentum—confirmed here with a sharp rally to 607
Wave 4 often retraces 38–50% of Wave 3, making 390 a logical support zone
Wave 5 tends to mirror Wave 1 or exceed it if sentiment and volume align
Analyst View The current wave structure suggests a healthy impulsive cycle with textbook symmetry. Wave 3 has shown strong directional conviction, and the expected Wave 4 correction toward 390 aligns with Fibonacci retracement norms. If price stabilizes above 390, it confirms buyer strength and sets the stage for Wave 5. The projected target of 830+ is based on proportional extension logic and prior cycle behavior. This setup resembles the 2014 rally, where a similar Wave 4 held and led to a breakout. Traders should monitor volume and sentiment near 390—any breakdown below this level would invalidate the bullish continuation and call for reassessment.
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.
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.