American Express Co.: wave analysis
22 August 2018, 09:36
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 104.80 |
| Take Profit | 108.00 |
| Stop Loss | 103.70 |
| Key Levels | 95.45, 100.64, 108.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 100.55 |
| Take Profit | 95.45 |
| Stop Loss | 102.25 |
| Key Levels | 95.45, 100.64, 108.00 |
The price can grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) of A forms. Now the fifth wave of the lower level v of 5 is developing. If the assumption is correct, the price will grow to the level of 108.00. The level of 100.64 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 100.64 with the target at 108.00. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 100.64 will let the price go down to the level of 95.45.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) of A forms. Now the fifth wave of the lower level v of 5 is developing. If the assumption is correct, the price will grow to the level of 108.00. The level of 100.64 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 100.64 with the target at 108.00. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 100.64 will let the price go down to the level of 95.45.
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