DJI, Elliott wave analysis
■Outlook of DJI on 1-Day chart.
I think that we are on sub-wave 5 of "wave ⅴ" shown as Orange-line.
probably, The sub-wave of "wave ⅴ" is "Diagonal".
All sub-waves of this diagonal are 3 waves.
Wave 5 of Diagonal will be completed after exceeding the high of Wave 4 (36,566) and at the Same time wave (iii) on the upper degree will be completed.
Next is wave (iv) (shown as purple-line).
If the assumption is correct, the target of the wave (iv) is as follows.
1. Closing price of sub-wave iv, 33,272
2. 38.2% Fibo level of wave (ⅲ), 32,352
3. Acceleration channel touch
In this scenario, the stop loss level is 38,920.
The overview looks at last time my idea.
■Last time my idea, Dec 19;
I think that we are on sub-wave 5 of "wave ⅴ" shown as Orange-line.
probably, The sub-wave of "wave ⅴ" is "Diagonal".
All sub-waves of this diagonal are 3 waves.
Wave 5 of Diagonal will be completed after exceeding the high of Wave 4 (36,566) and at the Same time wave (iii) on the upper degree will be completed.
Next is wave (iv) (shown as purple-line).
If the assumption is correct, the target of the wave (iv) is as follows.
1. Closing price of sub-wave iv, 33,272
2. 38.2% Fibo level of wave (ⅲ), 32,352
3. Acceleration channel touch
In this scenario, the stop loss level is 38,920.
The overview looks at last time my idea.
■Last time my idea, Dec 19;
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