American Express Company: wave analysis
18 September 2017, 09:41
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 86.91 |
| Take Profit | 90.00 |
| Stop Loss | 85.88 |
| Key Levels | 82.00, 84.00, 90.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 83.90 |
| Take Profit | 82.00 |
| Stop Loss | 84.55 |
| Key Levels | 82.00, 84.00, 90.00 |
The price increase is resumed.
On the H4 chart an upward pulse is still developing as the fifth wave v within the third higher-level wave 3. Locally, the formation of a downward correction as the fourth wave of the lower level (iv) of v of 3 was completed, and the development of the wave (v) of v began. If the assumption is true, the growth of the price of the asset will continue to the level of 90.00. The level of 84.00 is critical for this scenario.
Main scenario
Buy the asset during the corrections, above the level of 84.00 with a target of 90.00.
Alternative scenario
Breakdown of the level of 84.00 will allow the asset to continue the decline to around 82.00.
On the H4 chart an upward pulse is still developing as the fifth wave v within the third higher-level wave 3. Locally, the formation of a downward correction as the fourth wave of the lower level (iv) of v of 3 was completed, and the development of the wave (v) of v began. If the assumption is true, the growth of the price of the asset will continue to the level of 90.00. The level of 84.00 is critical for this scenario.
Main scenario
Buy the asset during the corrections, above the level of 84.00 with a target of 90.00.
Alternative scenario
Breakdown of the level of 84.00 will allow the asset to continue the decline to around 82.00.
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