If this is the correct wave count for this huge wave C then we should be on the start of the 3 third wave now.
In the bigger picture we see that we're currently in the right shoulder being formed of a head and shoulders pattern.
So there is a possibility that we will have a sharp abc- type of correction after this 5 wave structure towards our target.
In the bigger picture we see that we're currently in the right shoulder being formed of a head and shoulders pattern.
So there is a possibility that we will have a sharp abc- type of correction after this 5 wave structure towards our target.
Note
Target 8850-8950Note
Crossing 55EMA
Attempt to start wave 3.
Note
Inverted hammer 45mins spotted.
Trade closed: target reached
Even though it didn't exactly play out the way I wanted, it did workout eventually For anyone interested, I have to corrected version here->
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.