Hi traders,
Overview: lets review our expectation that I published on my June 26th update: "lets look at the hourly chart, where we have completed waves I, II and a of III so far. Same as my ES update, wave b of III is going to retest the broken channel of wave I, probably to the 12000 zone (11974 is 0.333 retracement of wave a)."
Today's Update: I see wave b of (III) completed as a triple zigzag pattern (wxyxz). Right now, we are in wave 2 of c of (III) which is developing as a double zigzag (wxy). What follows is a bullish rally to complete wave (III).
Potential Targets for Wave (III) top: (~12600)
1. Fib ratio for wave (III): 12589.5 and 12655.25.
2. Fib ratio for c of (III): 12583.25 and 12657.
3. As always, when we have subwaves of c of (III) developed, we can come up with more accurate targets, since I can see some more fib target confluences of points number 1 and 2 noted above.
Tip for Next Trading Session: I would say wait for your setup and look for bullish daytrades based on the count.
Important Note: if you need a view of the macro count on a daily chart , please refer to my previous NQ update.
Overview: lets review our expectation that I published on my June 26th update: "lets look at the hourly chart, where we have completed waves I, II and a of III so far. Same as my ES update, wave b of III is going to retest the broken channel of wave I, probably to the 12000 zone (11974 is 0.333 retracement of wave a)."
Today's Update: I see wave b of (III) completed as a triple zigzag pattern (wxyxz). Right now, we are in wave 2 of c of (III) which is developing as a double zigzag (wxy). What follows is a bullish rally to complete wave (III).
Potential Targets for Wave (III) top: (~12600)
1. Fib ratio for wave (III): 12589.5 and 12655.25.
2. Fib ratio for c of (III): 12583.25 and 12657.
3. As always, when we have subwaves of c of (III) developed, we can come up with more accurate targets, since I can see some more fib target confluences of points number 1 and 2 noted above.
Tip for Next Trading Session: I would say wait for your setup and look for bullish daytrades based on the count.
Important Note: if you need a view of the macro count on a daily chart , please refer to my previous NQ update.
