SNOW WOLFE WAVE DAILY

11 nov 2022

There is a daily wolfe wave setup that triggered on November 11 on the day of CPI. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right; however, the apex does not converge and as a result, identifying price targets short term should rely on moving averages or open gaps. The next major moving average is the 200 day ma which is 180.