Our Guiding Light:
.png)
How to confirm that C3 has indeed ended?
Very difficult.
But some probabilities can be found in following clues:
As C3 is seen as a 3 wave zig-zag form.
And in a 3 wave zig-zag mostly sw3=sw1
we have C3i=5032-5448=416 and C3iii=5216-5649*=433 so this condition is met.
Within C3iii,is a 5 wave Impulse complete?
With frequent gap-ups in the region 5216-5649,it is hazardous to assign subwaves but my attempts to do so gives me following chart:
.png)
sw1=5216-5375=159
sw2=5375-5333=42(26.4%)
sw3=5333-5649=316(200%)
sw4=5649-5585*=65 and as sw2 was shallow,sw4 should be deep--50%=sub 5500 and 62%=5454
The gap at 5525 or 34 hr EMA also are good supports and may prove to be end of sw4.
sw5 may come up again to 5650+ level.
So the first target for shorts should be 5525 (assuming that C3 is still in play and C3iii is doing its 4th subwave.
However,if C3 is already complete,then this Correction would be much deeper and would be labelled C4
.png)
How to confirm that C3 has indeed ended?
Very difficult.
But some probabilities can be found in following clues:
As C3 is seen as a 3 wave zig-zag form.
And in a 3 wave zig-zag mostly sw3=sw1
we have C3i=5032-5448=416 and C3iii=5216-5649*=433 so this condition is met.
Within C3iii,is a 5 wave Impulse complete?
With frequent gap-ups in the region 5216-5649,it is hazardous to assign subwaves but my attempts to do so gives me following chart:
.png)
sw2=5375-5333=42(26.4%)
sw3=5333-5649=316(200%)
sw4=5649-5585*=65 and as sw2 was shallow,sw4 should be deep--50%=sub 5500 and 62%=5454
The gap at 5525 or 34 hr EMA also are good supports and may prove to be end of sw4.
sw5 may come up again to 5650+ level.
So the first target for shorts should be 5525 (assuming that C3 is still in play and C3iii is doing its 4th subwave.
However,if C3 is already complete,then this Correction would be much deeper and would be labelled C4
No comments:
Post a Comment