DJI - Final 5th wave chart, including gaps.
My previous charts have used US30 data which includes out of market hours futures and does not show gapping.
This chart of the final 5th wave in DJI shows that a 5th wave is or is very nearly complete along with the gaps that at some point
will be filled.
Wave 5,V has hit an exact 1.618 fib ratio of waves 1-3 which is a common extension for 5th waves, in addition the upper trendline
drawn in parallel from waves 2-4 and from wave 3 has been hit. There may be a small overthrow in the next few days but after this
expect a quick reversal to at least 22700 as extended fith waves often retrace back to the 2nd wave of the extension.
Good Luck
This chart of the final 5th wave in DJI shows that a 5th wave is or is very nearly complete along with the gaps that at some point
will be filled.
Wave 5,V has hit an exact 1.618 fib ratio of waves 1-3 which is a common extension for 5th waves, in addition the upper trendline
drawn in parallel from waves 2-4 and from wave 3 has been hit. There may be a small overthrow in the next few days but after this
expect a quick reversal to at least 22700 as extended fith waves often retrace back to the 2nd wave of the extension.
Good Luck
Kommentera:
Drilling down to the 15min chart I think DJI has put in a final ending diagonal to hit the target of 23558 with a double top. A small 5 wave down has completed. Personally I am going short with a SL of 23650. Good Luck.
Kommentera:
Looks like Ending Diagonal complete as of 8th Nov, Wave 1 down completed and retrace will likely close the gap opened at todays open before starting wave 3 down.