American Express Co.: wave analysis
11 January 2019, 08:39
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 98.21 |
| Take Profit | 88.97 |
| Stop Loss | 101.19 |
| Key Levels | 88.97, 101.19, 108.77, 114.53 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 101.25 |
| Take Profit | 108.77, 114.53 |
| Stop Loss | 98.75 |
| Key Levels | 88.97, 101.19, 108.77, 114.53 |
The price may decrease.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) of A formed. Now, the first wave of the lower level 1 of (A) of B is forming as a momentum, within which the correction fourth wave iv of 1 is ending. If the assumption is correct, the price will fall to the level of 88.97. In this scenario, critical stop loss level is 101.19.
Main scenario
Short positions will become relevant during the correction, below the level of 101.19 with the target at 88.97. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 101.19 will let the price grow to the levels of 108.77–114.53.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) of A formed. Now, the first wave of the lower level 1 of (A) of B is forming as a momentum, within which the correction fourth wave iv of 1 is ending. If the assumption is correct, the price will fall to the level of 88.97. In this scenario, critical stop loss level is 101.19.
Main scenario
Short positions will become relevant during the correction, below the level of 101.19 with the target at 88.97. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 101.19 will let the price grow to the levels of 108.77–114.53.
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