As I speculated yesterday, breaking out of the wedge didn't require another dip lower for wave v. I removed the ending diagonal count since price broke up thru the wedge.
The count on the 15 min chart makes more sense should buying resume tomorrow. The inv H/S targets approx 1950.
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| 15 Min |
On the 60 min below, since things feel more bearish, we'll go with a wave iv bounce for now.
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| 60 Min |
However, on the daily charts below, the case can be made for a completed flat.
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| Daily |
The last two hammers (one hammer on 10-15-15 and one inverted hammer on 8-25-15) were confirmed with reversals. We'll see if it happens again.
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| Daily Hammer |
