Overview: first, let's see what was our expectation on the update of yesterday:
"Today we made lower low than yesterday daily candle, but both times it lead to strong bounces. Looking at the hourly chart, I think we have completed wave (I) and wave (II) is actually developing as a flat, with its wave b also as a flat. What follows is the continuation of the rally to complete wave c of (II) and then bear elevator comes with wave (III)."
Two hours after market open, I made a relabeling and refined my count as follows:
Update: The price action followed the updated count perfectly. Right now, we are in wave 3 of a of (III). Note that we had a shallow wave (II), which could lead to a deep wave b of (III) or wave (IV), but that's something to worry about later.
"Today we made lower low than yesterday daily candle, but both times it lead to strong bounces. Looking at the hourly chart, I think we have completed wave (I) and wave (II) is actually developing as a flat, with its wave b also as a flat. What follows is the continuation of the rally to complete wave c of (II) and then bear elevator comes with wave (III)."
Two hours after market open, I made a relabeling and refined my count as follows:
Update: The price action followed the updated count perfectly. Right now, we are in wave 3 of a of (III). Note that we had a shallow wave (II), which could lead to a deep wave b of (III) or wave (IV), but that's something to worry about later.
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.