JP Morgan Chase Co.: wave analysis
17 December 2018, 09:41
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 105.11 |
| Take Profit | 93.77 |
| Stop Loss | 105.93 |
| Key Levels | 93.77, 105.93, 112.05, 119.10 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 106.00 |
| Take Profit | 112.05, 119.10 |
| Stop Loss | 103.95 |
| Key Levels | 93.77, 105.93, 112.05, 119.10 |
The probability of price is still high.
On the H4 chart, the downward correction is forming as the fourth wave of the senior level 4 of (3). At the moment, it seems that the wave c of 4 is developing, within which the wave of the junior level (iii) of c is forming. If the assumption is true, the decline in the price will continue to 93.77. The critical level for this scenario is 105.93.
Main scenario
Short positions will become relevant below the level of 105.93 with the target of 93.77. Implementation period: 7+ days.
Alternative scenario
A breakout and consolidation of the price above the level of 105.93 will allow the asset to rise to the levels of 112.05–119.10.
On the H4 chart, the downward correction is forming as the fourth wave of the senior level 4 of (3). At the moment, it seems that the wave c of 4 is developing, within which the wave of the junior level (iii) of c is forming. If the assumption is true, the decline in the price will continue to 93.77. The critical level for this scenario is 105.93.
Main scenario
Short positions will become relevant below the level of 105.93 with the target of 93.77. Implementation period: 7+ days.
Alternative scenario
A breakout and consolidation of the price above the level of 105.93 will allow the asset to rise to the levels of 112.05–119.10.
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