JP Morgan Chase Co.: wave analysis
13 February 2019, 08:39| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 102.71 |
| Take Profit | 91.53, 85.90 |
| Stop Loss | 105.15 |
| Key Levels | 85.90, 91.53, 105.15, 113.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 105.20 |
| Take Profit | 113.00 |
| Stop Loss | 102.60 |
| Key Levels | 85.90, 91.53, 105.15, 113.00 |
The price may fall.
On the 4-hour chart, a downward correction forms as the fourth wave of the higher level 4 of (3). Now the wave c of 4 is developing, within which a local correction has ended as the wave (iv) of c. If the assumption is correct, the price will fall to the levels of 91.53–85.90. In this scenario, critical stop loss level is 105.15.
Main scenario
Short positions will become relevant during the correction, below the level of 105.15 with the targets at 91.53–85.90. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 105.15 will let the price grow to the level of 113.00.
On the 4-hour chart, a downward correction forms as the fourth wave of the higher level 4 of (3). Now the wave c of 4 is developing, within which a local correction has ended as the wave (iv) of c. If the assumption is correct, the price will fall to the levels of 91.53–85.90. In this scenario, critical stop loss level is 105.15.
Main scenario
Short positions will become relevant during the correction, below the level of 105.15 with the targets at 91.53–85.90. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 105.15 will let the price grow to the level of 113.00.
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