SUMMARY
Here is Home Depot (HD) the arch nemesis of Lowes (LOW). Would you be a buyer at this point? The chart is showing that five waves are likely placed. Wave 5 went vertical and that is never sustainable. The key is as to how deep the correction might be. It usually regrades to prior wave 4 but yes, it can go deeper than that.
The subwaves have been filled in and shows that the highere degree of trend waves (white) are qualified. For now, I've labeled the ABC conservatively but given the needle peak of wave 5; there are no buyers to be found. The MACD is expected to rise for the B wave bounce and decline again with the C wave. Let's see what the next few months bring.
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nice post... i like this type post. carry on.
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Movements that are not sure many more buyers are waiting. At the time of steady movement people will start buying. This is just a prediction.
I would not be buying since the housing market is becoming overvalued. Statistics show that there are many cities like London and Toronto to name a couple that are about to pop. Another thing is only new investors look to buy such a bull run. I think its time for a correction.https://www.marketwatch.com/story/the-cities-on-the-verge-of-a-housing-bubble-san-francisco-isnt-one-of-them-2018-02-14
Good day haejin, Would you be a buyer at this point? The chart is showing that five waves are likely placed.
Looking closely at the chart , I don't think investors are ready to sell, most of them are hodling their stake anticipating a higher movement.
Looking from the chart and candle , the price movement from 2016 -2018 is doubled compared to 2012 - 2014.
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