I plotted the EW taking the low of COVID-19 on a weekly timeframe. I believe we are in the 5th wave of the impulsive waves following the pandemic lows. The 3rd wave has travelled just above the 1.618 level (25575.05). The 4th wave retraced just about the 0.618 level of the 3rd wave, which is a little unusual for a 4th wave characteristic.
As it is a weekly chart, I expect the (33,194) level (1.618 level of the 3rd wave) to be the target for the 5th wave, unless it is a truncated one.
As the EWT is subjective in nature, I don't recommend following this analysis blindly. It's only for observational purposes. It's not a buy/sell recommendation.
It's a game of probability. I believe that risk management, and discipline, are more critical than analysis.
Note: For educational purposes only.
As it is a weekly chart, I expect the (33,194) level (1.618 level of the 3rd wave) to be the target for the 5th wave, unless it is a truncated one.
As the EWT is subjective in nature, I don't recommend following this analysis blindly. It's only for observational purposes. It's not a buy/sell recommendation.
It's a game of probability. I believe that risk management, and discipline, are more critical than analysis.
Note: For educational purposes only.
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.
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.