Wave ((5)) has unfold into clear impulse structure. We will continue to monitor for any reversal sign and we are expecting a retracement after completion of wave ((5)). -- Pengiran.
Using the guideline of fibonacci multiple within impulse for wave 5 projection, we can see price already reach the minimum target at 0.382 times the net distance traveled of waves 1 through 3. If the price continue to move higher, our next possible target is at 93.00 area (0.618 fibo level). Keep in mind that we are in a late stage of wave 3 development and we...
Positive development of XLE since our last posting. We can see a clear price movement in motive wave fashion for wave ((5)). For now we are still expecting price to push higher to complete wave ((5)). -- Pengiran.
As for now. We are expecting price to move higher to complete wave ((iii)). Using Fibonacci multiple guidelines within impulse wave, reasonable target for wave ((iii)) is at 1.618 relationship compare to wave ((i)) movement. Our invalidation level is set at 82.98. – Pengiran.
As for now. We are expecting price to move higher to complete wave ((iii)). Using Fibonacci multiple guidelines within impulse wave, reasonable target for wave ((iii)) is at 1.618 relationship compare to wave ((i)) movement. Our invalidation level is set at 82.98. – Pengiran.
It is possible that Wave (ii) already ended at 3.781. If Wave (ii) already complete, then we are expecting a higher movement for Wave (iii). Key level that we are going to monitor is 3.781 and 4.385. Price movement below 3.781 level will tell us that Wave (ii) still in play and a movement above 4.385 will strengthen the idea that wave (ii) is completed and early...
Expecting price to move lower to complete wave c of (ii). 3.536 served as our invalidation level for this idea. Moving above 4.390 will strengthen this idea and indicate that early-stage development of wave (iii) is in progress. -- Pengiran
