If my count is correct, we just ended the C leg (hit 61.8% wave A extension) of a zig zag. Started a small long position on the channel and subwave (iv) break, 50 day RSI bounce, 2H MACD crossover, 61.8% wave 3 retracement and 4H 55EMA bounce.
In this count, wave 1 and 3 hit a perfect 1:1 extension, so I'm expecting an extended fifth wave. My target zone is the purple rectangle, while the blue one has the highest probability.
My guess is 88.5 by the end of the year, a January rally to 100 and then a correct.
In this count, wave 1 and 3 hit a perfect 1:1 extension, so I'm expecting an extended fifth wave. My target zone is the purple rectangle, while the blue one has the highest probability.
My guess is 88.5 by the end of the year, a January rally to 100 and then a correct.