JP Morgan Chase Co.: wave analysis
10 December 2018, 09:39
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 103.30 |
| Take Profit | 93.77 |
| Stop Loss | 112.82 |
| Key Levels | 93.77, 112.82, 119.10 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 112.90 |
| Take Profit | 119.10 |
| Stop Loss | 110.85 |
| Key Levels | 93.77, 112.82, 119.10 |
The probability of decline remains.
On the H4 chart, the downward correction is developing as the fourth wave of the higher level 4 of (3). At the moment, it seems that the wave c of 4 is developing, within which the wave of the lower level (iii) of c is forming. If the assumption is true, the price reduction will continue to the level of 93.77 The critical level for this scenario is the level of 112.82.
Main scenario
Short positions will become relevant below the level of 112.82 with the target of 93.77. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 112.82 will allow the asset to rise to the level of 119.10 and above.
On the H4 chart, the downward correction is developing as the fourth wave of the higher level 4 of (3). At the moment, it seems that the wave c of 4 is developing, within which the wave of the lower level (iii) of c is forming. If the assumption is true, the price reduction will continue to the level of 93.77 The critical level for this scenario is the level of 112.82.
Main scenario
Short positions will become relevant below the level of 112.82 with the target of 93.77. Implementation period: 7+ days.
Alternative scenario
Breakout and consolidation of the price above the level of 112.82 will allow the asset to rise to the level of 119.10 and above.
No comments:
Write comments