click to enlarge |
start....20.37
wave -i-.......24.24
wave -ii-.......22.30 ....>50% retrace
Wave....-a-....28.74
wave....-b-.....26.55
Wave -iii-....36.87@ 376.4%
Wave c.......36.98@ 161.8%
I am expecting wave -iv- to be 50 to 58% retace@ 28.34,because of wave -ii- being .50.
This is not trading recommendations but simply the Math of the trade. We actually have know way of knowing the exact Price turning points or how deep a retrace will be, but can do the Math to make better exits and entry's. As you can see there is still no divergence in rsi or macd. We can only estimate wave -v- after the other waves have progressed.
The Distance of Price from the actual cloud formation gives us a clue also that wave -iv- could reach the
actual pullback prices calculated and or timing as well.
I actually took cream of the top when we had 31% profit. If Price achieves the Target at 36.80 I personally will sell the remainder of shares and re-enter if the price of wave -iv- achieves 28.34. If the retrace of -iv- is shorter then I will wait for the wave -v-to complete to see how deep the pullback is in wave (II). With a larger wave (II) we do not know how deep the retrace will be. With more Time and Price the cloud may give us a clue to the depth of the retrace for (II). Good Luck. hillman
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