[Update 10-Jun] $M expected to go higher to $11 in wave-5

11 июн. 2020 г.

This is an update to my original idea posted on 6th June, while $M retraced back to 0.618 levels today - the hourly and 4 hourly formation in the first half went on very well.

However, we did not started rallying higher the same day. With this, is the idea of wave-5 to hit $11 still valid?

The idea invalidates if we close below $7.8 on a daily chart. For now, we're good - I'll post an update as well if the idea invalidates.

Our targets remain same, with TP1 being slightly lower as it was computed based on length of wave-1 and where wave-4 settles. While TP2 can be an extension based on market conditions of course.

TP1: $10.6
TP2: $10.8-11.2

What do you think about this idea? Leave your comments below.

Disclaimer: This is not a financial advice. Please make your independent decisions while making an investment.

12 июн. 2020 г.

Заметка

Market went below the trend line which invalidates this setup.