NOT determined to BUST OUT
TYPICAL of a 4th wave when there is a 5th very nearby.
the 4th wave up should finish by FRIDAY Apr13th
and the 5th should start Monday, ending on the 20th
what would be the 4th wave parameters?
DO THE FIBO MATH
wave 3 was from 1401-1357 =44
44 X .382% = 17 + 1357 = 1374 which we got on the OPEN rally yesterday
44 X 23.6%= 10 to 1367 where it HELD yesterday - was that the BUY IN ?? maybe so
then
any break out over 1374 should be considered the NEXT up leg within an ABC - 3 stage rally
HOW HIGH IS HIGH? , you ask-good question
Could get to 1398 to as high as 1408 as retracements from 1422 to 1357
but 1382 would be the first target as 38% of the 64 pt loss
Stay tuned
Jay
No comments:
Post a Comment