JP Morgan Chase Co.: wave analysis
10 September 2018, 09:56
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 114.31 |
| Take Profit | 125.00 |
| Stop Loss | 112.00 |
| Key Levels | 108.20, 110.14, 112.00, 125.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 111.90 |
| Take Profit | 110.14, 108.20 |
| Stop Loss | 112.50 |
| Key Levels | 108.20, 110.14, 112.00, 125.00 |
The correction is ending, the price can grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) forms. Now the first entry wave i of 5 of the lower level has formed, and the development of the local correction as a wave ii of 5 is ending, within which the formation of the wave (c) of ii is ending. If the assumption is correct, after the end of the wave the price will grow to the level of 125.00. In this scenario, critical stop loss level is 112.00.
Main scenario
Long positions will become relevant after the end of the correction, above the level of 112.00 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 112.00 will let the price go down to the levels of 110.14–108.20.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) forms. Now the first entry wave i of 5 of the lower level has formed, and the development of the local correction as a wave ii of 5 is ending, within which the formation of the wave (c) of ii is ending. If the assumption is correct, after the end of the wave the price will grow to the level of 125.00. In this scenario, critical stop loss level is 112.00.
Main scenario
Long positions will become relevant after the end of the correction, above the level of 112.00 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 112.00 will let the price go down to the levels of 110.14–108.20.
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