Since Covid low(W-4) mkt is moving in corrective wave as per Neo wave...an extension/improvement of Elliot wave with more rigorous rules involving allowable retracement in both price,time and whenever particular impulse rule is violated,structure becomes corrective(NOT CORRECTION...Just to differentiate from impulse,the name given to such waves as corrective waves and can move big in up/down)
From 26373(wave B), C dn started. When everybody was gungho on Trump announcement,mkt smiled slyly & made sub wave 2 which took less time making future structure terminal. In trm,3rd wave ...in extreme circumstances(like war can extend to 2.618 of 1 ~22090(made low at 24182!!). Presently w-4 of terminal is on. The acid test of the analysis>>if really terminal as evidence so far suggests,ongoing 4 must overlap 1(can go till Trump candle high before retreating for making w-5 of term.As it is a 3rd extended terminal,w-5 will not exceed .618 of 3rd(exact level can be arrived at only after completion of 4.
From 26373(wave B), C dn started. When everybody was gungho on Trump announcement,mkt smiled slyly & made sub wave 2 which took less time making future structure terminal. In trm,3rd wave ...in extreme circumstances(like war can extend to 2.618 of 1 ~22090(made low at 24182!!). Presently w-4 of terminal is on. The acid test of the analysis>>if really terminal as evidence so far suggests,ongoing 4 must overlap 1(can go till Trump candle high before retreating for making w-5 of term.As it is a 3rd extended terminal,w-5 will not exceed .618 of 3rd(exact level can be arrived at only after completion of 4.
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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.