We expected a bounce... this big? honestly no. The gap fill was my original target @ $18.81, it hit and acted as resistance then broke through.
We are currently sitting at resistance @ $20.21, i believe monday will be a red day considering some of our indicators are bearish. If we drop down to the $18.81 expect a bounce, i believe we will try and test the downward resistance line @ $19.61. (Decision point #1) if we break expect a retest of the green trend line.
Elliot wave: Staying with my original count with this being a wave 4 retracement, if we move any higher that will invalidate the count and we would be looking at a wave 5 retracement instead of a 4. It looks like a flat and zigzag correction, If we break higher C is the next target sitting at 127% fib extension for the zigzag. It's rare for a wave 4 to break this high but it is possible
Indicators: MFI currently overbought with divergence
Tsv: Decreasing volume ever since the previous high creating a divergence
Overall i'm bearish but i think there is a legitimate argument that we could go higher so watch break of structure and volume.
Thanks
God bless
We are currently sitting at resistance @ $20.21, i believe monday will be a red day considering some of our indicators are bearish. If we drop down to the $18.81 expect a bounce, i believe we will try and test the downward resistance line @ $19.61. (Decision point #1) if we break expect a retest of the green trend line.
Elliot wave: Staying with my original count with this being a wave 4 retracement, if we move any higher that will invalidate the count and we would be looking at a wave 5 retracement instead of a 4. It looks like a flat and zigzag correction, If we break higher C is the next target sitting at 127% fib extension for the zigzag. It's rare for a wave 4 to break this high but it is possible
Indicators: MFI currently overbought with divergence
Tsv: Decreasing volume ever since the previous high creating a divergence
Overall i'm bearish but i think there is a legitimate argument that we could go higher so watch break of structure and volume.
Thanks
God bless
Ghi chú
i expect a fools rally... again we need to watch red downward trend line for break... let me know what yall thinkGhi chú
alt C is very possibleGhi chú
woah that was a hard impulse, moment of truth tomorrowGhi chú
alt C hit perfectly at the 127% fib extensionGhi chú
the reason you plan for alt scenarios.. dont stay one sidedĐóng lệnh: đạt mục tiêu
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.