This count is still alive

One of the earliest wave counts for the potential impulse.

Second wave (green, circled) - is a zigzag.
According to EWT, fourth wave, in this case, is likely to be a flat pattern - that is, a flat or a triangle.

I assume an expanded flat in the fourth wave, that has to be completed without overlapping the wave 1.
Also, the fourth wave may travel also deeper than 38% against the wave 3, the next fibo level - and it is ok with EWT, is 50% retracement.

So, on the H4 frame I assume a lower low to complete the 5-waves-sequence in the wave (c) of the flat, and a likely reversal.

Target for this structure - for the impulse to be completed perfectly within the Fibo - is $150k

Tried to visualize again on the chart.

Trade safe!

Comentário:

Just in case - the wave (c) may be already done.
As a chance - there is an interesting fibo level - 62% - used to measure the length of the wave 5 in an impulse, based on the net distance, covered by waves 1-4.

This impulse is not visually perfect - wave iv is very short compared with wave ii. Anyway, it is still valid.

As a reversal - we may have got a leading diagonal, and the local second wave should be completed soon.

Will See

Comentário:

and drilling down to the lower frame: a "sweet zone" for the second waves - retracement to 62-78%.

Mind the divergence with RSI indicator.

Culmination point is near. breaking down 78 level is a bearish continuation signal, although, the impulse is valid until its start is not challenged.

chao)

Comentário:

and an alternative - to complicate it more))

A leading diagonal and a flat. Latest consolidation is likely a triangle, need a lower low.