The chart displayed contains my main wave count for the upward move in US30 so far since its local bottom.
The upward rally was rather swift with high momentum consisting of WXYXZ waves. The Z wave which ended recently almost 2 weeks ago consisted of a normal ending diagonals 12345 as mentioned followed by decrease in prices.
Now according to the current situation, an expanding flat seems like a perfect choice to flush out the shorts followed by downward continuation. Another reason for the last upward push is because we did not reach 0.786 retracement level which can be tapped through B wave of expanded flat as shown clearly below.
Currently there is a lot of non-harmony in the overall Financial Markets with each asset giving out different sentimental feels. Thus it means the next couple of weeks are going to be very much irregular filled with anomalies so trading with caution is advised.
The upward rally was rather swift with high momentum consisting of WXYXZ waves. The Z wave which ended recently almost 2 weeks ago consisted of a normal ending diagonals 12345 as mentioned followed by decrease in prices.
Now according to the current situation, an expanding flat seems like a perfect choice to flush out the shorts followed by downward continuation. Another reason for the last upward push is because we did not reach 0.786 retracement level which can be tapped through B wave of expanded flat as shown clearly below.
Currently there is a lot of non-harmony in the overall Financial Markets with each asset giving out different sentimental feels. Thus it means the next couple of weeks are going to be very much irregular filled with anomalies so trading with caution is advised.
Comment:
This week price movement is probably going to be like projected below:
Trade closed: target reached:
Both targets of upward and downward move were reached with good amount of profits.
