What is a double Zig-Zag?
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price action is beautifully contained within this descending channel, as nasdaq continues to ping pong from the upper to lower trendlines.
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looking for the local b-wave to continue taking shape in the days ahead.
after which, market should put in 5 waves down to complete the Y-wave of the w-x-y.
a bottom could be put in around september.
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in a worst case scenario, the double zig-zag could turn into a triple zig-zag, which would imply 2 more legs beyond what i have displayed on my chart.
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ps. this count can easily be invalidated, and i'll talk more about it if it happens in the days ahead.
ps.2 the market is never linear, so expect the unexpected at any given time, and always have some kind of plan.
👇
👇
price action is beautifully contained within this descending channel, as nasdaq continues to ping pong from the upper to lower trendlines.
---
looking for the local b-wave to continue taking shape in the days ahead.
after which, market should put in 5 waves down to complete the Y-wave of the w-x-y.
a bottom could be put in around september.
---
in a worst case scenario, the double zig-zag could turn into a triple zig-zag, which would imply 2 more legs beyond what i have displayed on my chart.
---
ps. this count can easily be invalidated, and i'll talk more about it if it happens in the days ahead.
ps.2 the market is never linear, so expect the unexpected at any given time, and always have some kind of plan.
Nota
the whole theory is a work in progress. i think nasdaq has 1 more leg up in the local wave A, before it begins a decline into wave B
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.