YM1! evening update
Analysis of YM1!.
This count sees price in wave ((5)) of (v), with wave (v) starting at October 2022 low.
From 5 August 2024 low, count in red is less bullish, count in green is more bullish.
If count in red is correct, then 5 must be shorter than 3 (as 3 was shorter than 1), and price will not go above resistance at 45062.
If count in green is correct, price would be in wave 3 of (3) of ((5)) and extend above 45062.
Regardless of whether green or red is correct, each ends primary wave (v), and if median line of pitchfork cannot be tagged, it suggests that price will revisit October 2022 lows.
As price gets closer to 45062, reward/risk for YM1! short off that resistance improves.
This count sees price in wave ((5)) of (v), with wave (v) starting at October 2022 low.
From 5 August 2024 low, count in red is less bullish, count in green is more bullish.
If count in red is correct, then 5 must be shorter than 3 (as 3 was shorter than 1), and price will not go above resistance at 45062.
If count in green is correct, price would be in wave 3 of (3) of ((5)) and extend above 45062.
Regardless of whether green or red is correct, each ends primary wave (v), and if median line of pitchfork cannot be tagged, it suggests that price will revisit October 2022 lows.
As price gets closer to 45062, reward/risk for YM1! short off that resistance improves.
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