super cycle degree-white
cycle impulse-yellow,
cycle correction-red,
primary impulse-blue
currently we are in super cycle degree wave 3 which is supposed to be most powerful impulse,hence as an individual one should always look to buy this stock be it for intraday,swing or positional trading as higher degree will always have bigger impact on price movement.
In coming days(this month end) if prices correct's and gives negative closing on monthly chart than we can assume that wave 1(cycle) of wave 3 (super cycle 3) has ended and wave 2(cycle) correction can take prices in the range of 89-70.Following wave 3-4-5 target's are as follow's
assuming wave 2(cycle)ending @70.
wave 3(cycle):70-280
wave 4(cycle):280-200
wave 5(cycle):200-460/480.longest among 1,3,5 as generally seen in commodities.
Mind well this are just ideal projection as per text-book guidelines.Actual levels may differ.Whole idea behind this post is to share insight on current wave count on long term price action.
cycle impulse-yellow,
cycle correction-red,
primary impulse-blue
currently we are in super cycle degree wave 3 which is supposed to be most powerful impulse,hence as an individual one should always look to buy this stock be it for intraday,swing or positional trading as higher degree will always have bigger impact on price movement.
In coming days(this month end) if prices correct's and gives negative closing on monthly chart than we can assume that wave 1(cycle) of wave 3 (super cycle 3) has ended and wave 2(cycle) correction can take prices in the range of 89-70.Following wave 3-4-5 target's are as follow's
assuming wave 2(cycle)ending @70.
wave 3(cycle):70-280
wave 4(cycle):280-200
wave 5(cycle):200-460/480.longest among 1,3,5 as generally seen in commodities.
Mind well this are just ideal projection as per text-book guidelines.Actual levels may differ.Whole idea behind this post is to share insight on current wave count on long term price action.