JP Morgan Chase Co.: wave analysis
20 August 2018, 09:49
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 116.01 |
| Take Profit | 125.00 |
| Stop Loss | 112.92 |
| Key Levels | 108.00, 109.80, 112.92, 125.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 112.85 |
| Take Profit | 109.80, 108.00 |
| Stop Loss | 113.90 |
| Key Levels | 108.00, 109.80, 112.92, 125.00 |
The price can grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) is forming. Now the first entry wave i of 5 of the lower level has formed, and the local correction has ended as a wave ii of 5. If the assumption is correct, the price will grow to the level of 125.00. The level of 112.92 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 112.92 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 112.92 will let the price go down to the levels of 109.80–108.00.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) is forming. Now the first entry wave i of 5 of the lower level has formed, and the local correction has ended as a wave ii of 5. If the assumption is correct, the price will grow to the level of 125.00. The level of 112.92 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 112.92 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 112.92 will let the price go down to the levels of 109.80–108.00.
No comments:
Write comments