JP Morgan Chase Co.: wave analysis
13 August 2018, 09:47
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 115.66 |
| Take Profit | 125.00 |
| Stop Loss | 109.77 |
| Key Levels | 102.09, 109.77, 125.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 109.70 |
| Take Profit | 102.09 |
| Stop Loss | 112.23 |
| Key Levels | 102.09, 109.77, 125.00 |
The price is in correction and can grow.
On the 4-hour chart, the downward correction formed as a fourth wave 4 of the higher level. Now the first entry wave i of 5 of the lower level has formed within the fifth wave 5, and the local correction is developing as a wave ii of 5. If the assumption is correct, after the end of the correction the price will grow to the level of 125.00. The level of 109.77 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant after the end of the downward correction, above the level of 109.77 with the target at 125.00. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 109.77 will let the price go down to the level of 102.09.
On the 4-hour chart, the downward correction formed as a fourth wave 4 of the higher level. Now the first entry wave i of 5 of the lower level has formed within the fifth wave 5, and the local correction is developing as a wave ii of 5. If the assumption is correct, after the end of the correction the price will grow to the level of 125.00. The level of 109.77 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant after the end of the downward correction, above the level of 109.77 with the target at 125.00. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 109.77 will let the price go down to the level of 102.09.
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