Intellect Design
It seems that wave C is unfolding .
Keep in consideration that we are not talking about short term ups and downs. Our view is for 3-6 months horizon.
It currently at 40 months moving average level. If it breaks from here , it can do 38% to 61.8 % retracement of the whole rise from March 2020. That means it can anywahere from 470 to 410 leavels .
Btw A=C also happens at 61.8% . And that is the worst case scenario as per current wave structure.
In short - one has to be very very cautious.
Weekly Chart
Disclaimer :This post is just a for learning a method. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success depend upon various factors.
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