A year ago I posted a chart (see related) with map of weakness for CLP. This is daily chart to give you the map of the current impulse. Wave 4 could have been completed now. Wave 5 should at least tag former top of CLP 732. The next target is CLP 764 where 5 = 100% of 1-3
@Dguaman, Hi Dguaman! Nothing much to add as it goes as planned but I tailored EW count for the last wave up for visual guidance.
btM_Afta
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@aibek, Could you please show me a 1D chart sir .. as i want to see retracement after 700 .. and then up .. i have a target of 757 .. but first touch 700 then fall till 658/660 then up to my target. but i want to see yours :D
aibek
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@Dguaman, if wave 3 will be textbook 1.618 of wave 1 (blue labels) then it can reach 728, I extended a little bit as usually wave 3 tags the former top then retraces in wave 4. Most EW traders prefer to exit on wave 3 as wave 4 could be deep. All corrections are tricky.
btM_Afta
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Still On ?
aibek
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@Dguaman, Hey Dguaman from Chile! This is my take on it now
aibek
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@Dguaman, the map is not a trade setup but my view. The wave ((4)) could drop as low as 635 to 61.8 Fib although is already reached the 50%. I would wait the break of wave 4 of wave (C) of ((4)) (not shown, nearest peak) above 668.50 (orange line). Limit your risk according to your own strategy.
btM_Afta
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@aibek, I was thinking before on 640 and then 680 ... but i see a weakness in copper and i think it could go up now.. as your graphic :) thanks sir
Do you have a copper view ?