Expecting wave 5 to reach a new high

interesting facts:

• wave 3 equals approximately 4.236 times the length of wave 1
  
• wave 4 has retraced approximately 50% of wave 3 it also ended near the lower line of the blue trend channel (connecting end of wave 1, 2 &3 to draw)
  

Note
wave 4 could take a more complex formation such as triangle (very common structure for wave 4), but it probably won't stop bulls grinding for another new high in the next few months time

Komentar:

Komentar:

The anticipated wave 4 is getting slightly larger than I thought, but still valid as long as price hold above wave 1 high at $57.22

Note
sub wave {c} of 4 has already hit the 71.37 (where wave {c} = wave {a})
we can also see divergence between price & technical indicators, e.g. RSI, MACD

Komentar:

Komentar:

It seems that the internal structure has completed the 5-3-5 zigzag, but we still need to see an initial impulsive rally to boost our confidence that the recent low of $66.46 is the end of wave {c} of 4

The good news is Guppy-EMA is turning bullish signal. Let's see if price can break the trend line first.