When a Gravestone Doji of that size appears on a 15-day #Nickel chart, it is definitely for a reason and this reason is not a rally. The perspectives are indeed gloomy if we look at the chart from the perspectives of #ElliottWaves and #Candlesticks.
Possible counts/paths:
- Blue
– working on wave 2 after completing a leading diagonal 1.
Targets: 19200 – 7551 - Red
– working on wave C of II after completing an ending diagonal c of B.
Targets: 16900 – 4550 - Possible loss – 40-76% (31860 – base).
- Note that the diagonals tend to resolve towards the level of origin – 7550.
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