(Not financial advice)
Comment below please. It is fun to discuss the outlook.
Based on my current wave count, I think wave 4 is done and we are in wave 5 now. Mainly due to the fact that the final mid-March rally that led to the double top was not an impulsive move, mixed with the absolutely beautiful alternating symmetry we are seeing here in the wave structures. The amount of time they are taking to complete and the fib extensions all line up so well.
(Wave 4)
Price discovery takes time when radical changes happen in one of the most important global markets (oil)! Typically the middle of the price discovery range ($100/barrel) is seen to be "Fair Value".
This wave 4 pullback started off with an initial, very large, high energy wave W crash to start it off, but that wasn't the end of the story.
Then the X(1) structure wants to appear impulsive, but I am certain we are looking at a 3-wave corrective structure up in X.
Then Y has a nice 5 wave move. Notice that Y is shrunken almost because the W wave was just so aggressive. Think of the market as containing potential energy - well, W used up too much and so Y got the leftovers.
The following X(2) wave has amounted to an average move out of the 3 downward corrective moves here.
Comment below please. It is fun to discuss the outlook.
Based on my current wave count, I think wave 4 is done and we are in wave 5 now. Mainly due to the fact that the final mid-March rally that led to the double top was not an impulsive move, mixed with the absolutely beautiful alternating symmetry we are seeing here in the wave structures. The amount of time they are taking to complete and the fib extensions all line up so well.
(Wave 4)
Price discovery takes time when radical changes happen in one of the most important global markets (oil)! Typically the middle of the price discovery range ($100/barrel) is seen to be "Fair Value".
This wave 4 pullback started off with an initial, very large, high energy wave W crash to start it off, but that wasn't the end of the story.
Then the X(1) structure wants to appear impulsive, but I am certain we are looking at a 3-wave corrective structure up in X.
Then Y has a nice 5 wave move. Notice that Y is shrunken almost because the W wave was just so aggressive. Think of the market as containing potential energy - well, W used up too much and so Y got the leftovers.
The following X(2) wave has amounted to an average move out of the 3 downward corrective moves here.
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這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。