CJ is currently traveling in a beautiful descending channel and at the very same time creating a 5 wave impulse move.
Waves 1-3 have been completed, and I am currently awaiting the end of wave 4. The law of tendency is at play here as
waves 2 and 4 are forming two different corrective patterns. Multiple targets for the fifth wave as there is always
more than one scenario possible.
Targets:
- 77.550
- 77.200
Waves 1-3 have been completed, and I am currently awaiting the end of wave 4. The law of tendency is at play here as
waves 2 and 4 are forming two different corrective patterns. Multiple targets for the fifth wave as there is always
more than one scenario possible.
Targets:
- 77.550
- 77.200
Trade closed: stop reached
Note
Price broke above the AC line and out of the descending channel. This may be a signal to look for long opportunities, provided there is structural confirmation.
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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.
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.