Overview: let's review our expectations on the update of September 15th:
Update: the price action followed our proposed structure perfectly. However, based on my observation on major stocks and the fact that the wave (II) was very shallow, I am changing my primary count. Again, this count is not invalidated, however, it is not the most probable scenario in my opinion.
My new labeling is that this week we completed wave (I) of c of Z and now we will have a pullback as wave (II), which I think will end by September 21st (FOMC). What follows is the initiation of wave (III) of c of Z.
My target for wave (II) peak? (3960-3986.25)
1) Retracement of wave (I): 3960.25, 3976, 3986.25, and 4014
2) Volume profile of wave (I): 3951, 3962, and 4003.25
3) Support/resistance levels: 3961.25, 3976.75, 3995.5, and 4017
Note that a wave (II) generally retests wave b of wave (I) and even extends higher, in this case we have 3981.25 as peak of wave b of (I).
- The price action followed the updated count perfectly. Right now, we are in wave 3 of a of (III).
Update: the price action followed our proposed structure perfectly. However, based on my observation on major stocks and the fact that the wave (II) was very shallow, I am changing my primary count. Again, this count is not invalidated, however, it is not the most probable scenario in my opinion.
My new labeling is that this week we completed wave (I) of c of Z and now we will have a pullback as wave (II), which I think will end by September 21st (FOMC). What follows is the initiation of wave (III) of c of Z.
My target for wave (II) peak? (3960-3986.25)
1) Retracement of wave (I): 3960.25, 3976, 3986.25, and 4014
2) Volume profile of wave (I): 3951, 3962, and 4003.25
3) Support/resistance levels: 3961.25, 3976.75, 3995.5, and 4017
Note that a wave (II) generally retests wave b of wave (I) and even extends higher, in this case we have 3981.25 as peak of wave b of (I).
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המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.