IS BMW about to correct 60% in September?

2024年4月26日

On the above monthly chart price action has grown 200% since May 2020. A number of reasons now exist to consider a cautious outlook. They include:

1) Bearish divergence. 5 oscillators now print negative divergence with price action as measured over an annual period. This measurement is equivalent to previous corrections.

2) Three rising wedges are shown. The age of each wedge is measured. Statistically a wedge shall breakout 70% into the formation.

September 2007
Age: 2281 days
Breakout: 1581 days, 70% into formation

April 2015
Age: 2042 days
Breakout: 1432 days, 70% into formation

September 2024
Age: 2374 days
Projected breakout: 1673 days, August / September 2024

3) Lastly the candle now currently printing for the month of April, a hammer candle.

Ww

2024年6月4日

交易开始

Down 12% so far. Be patient for the full 60%.

2024年8月7日

注释

Down 25% now.
35% to go.

2024年11月7日

注释

-35% now...
price action is clinging to market structure on a knife edge.
Now with the German government pulling an AWOL uno card, there's no one to come to the rescue should the business enter financial difficulty.

Should market structure break, expect the next 35% to be a sharp drop to the forecast support area. Close shorts positions at that time.