American Express Co.: wave analysis
31 May 2019, 09:23
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 116.73 |
| Take Profit | 125.00, 130.00 |
| Stop Loss | 113.18 |
| Key Levels | 104.50, 108.00, 113.18, 125.00, 130.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 113.10 |
| Take Profit | 108.00, 104.50 |
| Stop Loss | 114.80 |
| Key Levels | 104.50, 108.00, 113.18, 125.00, 130.00 |
The price is in a correction and may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the third wave of the lower level iii of 5 has formed, and the local correction iv of 5 is developing. If the assumption is correct, after the end of the correction, the price will grow to the levels of 125.00–130.00. In this scenario, critical stop loss level is 113.18.
Main scenario
Long positions will become relevant during the correction, above the level of 113.18 with the targets at 125.00–130.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 113.18 will let the price go down to the levels of 108.00–104.50.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the third wave of the lower level iii of 5 has formed, and the local correction iv of 5 is developing. If the assumption is correct, after the end of the correction, the price will grow to the levels of 125.00–130.00. In this scenario, critical stop loss level is 113.18.
Main scenario
Long positions will become relevant during the correction, above the level of 113.18 with the targets at 125.00–130.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 113.18 will let the price go down to the levels of 108.00–104.50.
No comments:
Write comments