(Twtr Analysis) - Ok so I have 2 "Primary counts" for this. Colors for "Primaries" are (Red and Light Blue). So getting into this our (1st wave) retraced marginally below our (.618 buy Algo zone) on Log scale and at the .786 for Linear scale. So right now on "Parallel Base channels" wise on the (Linear scale) we did break through and retest that top channel which would be a sign that it is a formed "4th wave" as it is also above "1.618 extension" , on the other hand on "Log scale there was no "Base Channel break" and technically we could say we are still in "3rd wave" cause still on Log scale "1.618 fibonacci extension" was never touched and is still below (1.236 extension) of it to be called an impulse for "3rd wave" for (Log scale) wise. So going into indicators wise the (MACD and RSI) do not have confluence as there was no 3rd wave confirmation on RSI but on MACD we have clear confirmation from the Histogram and averages that it could be (3rd and 4th wave) . So having that we will assume that we just has our 3rd and 4th wave finish (RED COUNT) and will head into the 5th wave if we can confirm out of this correction, for that I have placed a (Green Dashed Line) for a potential "Buy zone" for bulls if broken, if not and (RED DASHED Line) is broken we could have a (WXY) being formed and if we end up overlapping on "Macro waves" it could be complicated enough to stay out for that time being . Also I have some potential confluence as shown where we are currently at we have a (.618 retracement Algo Zone rejection) with a potential target of $100.22. I have also shown some targets where we could have a couple bounces on the "PITCHFORK" and as for right now on (Log scale) we are playing on the "Median" . AS always these are my opinions : )
As always happy trading : )
As always happy trading : )