The structure could technically be counted as complete. All the pre-requisites are there, however, there are a few reasons I believe OMH is still incoming.
1. Looking at the MACD you can see the trendline I have drawn. I expect it to hit that trend line before turning back down, and in order for that to happen, price will have to raise.
2. We have yet to hit the 1.0 of this ABC retrace!
3. If this were to be all of this retrace it would be a shallow ((B)) wave, and with posting almost $1Billion in un-expected revenue, I find that unlikely.
4. TIME. I have been going on a lot lately about time. Ultimately, structure is the top authority over time or any other tool, but time still matters an awful lot.
5. Consolidation. We have been consolidating around this are for a while now allowing people to take profits off the table and setting new ones up with more of a tolerance for the last push higher.
All this being said, we could start to drop at any time and head lower either for another A wave of a higher degree or start our Primary ((C)) wave drop lower. This is labeled in turquoise as my ALT count and suggests we have already topped and will start trending down shortly. Again, This is my ALT count as of this time.
A breach of $110.02 indicates we're headed to my target box for OMH. $101.09 is the first clue we are headed down. While a breach of $83.36 confirms we are dropping much lower.
Bonam Fortunam,
--Tyler
1. Looking at the MACD you can see the trendline I have drawn. I expect it to hit that trend line before turning back down, and in order for that to happen, price will have to raise.
2. We have yet to hit the 1.0 of this ABC retrace!
3. If this were to be all of this retrace it would be a shallow ((B)) wave, and with posting almost $1Billion in un-expected revenue, I find that unlikely.
4. TIME. I have been going on a lot lately about time. Ultimately, structure is the top authority over time or any other tool, but time still matters an awful lot.
5. Consolidation. We have been consolidating around this are for a while now allowing people to take profits off the table and setting new ones up with more of a tolerance for the last push higher.
All this being said, we could start to drop at any time and head lower either for another A wave of a higher degree or start our Primary ((C)) wave drop lower. This is labeled in turquoise as my ALT count and suggests we have already topped and will start trending down shortly. Again, This is my ALT count as of this time.
A breach of $110.02 indicates we're headed to my target box for OMH. $101.09 is the first clue we are headed down. While a breach of $83.36 confirms we are dropping much lower.
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
