Hello traders,
Technical analysis:
--- Previous waves up were 83% UP and then 137% UP, thus the conservative wave is expected to be 80%.
--- Before previous up moves, RSI touched 30, and when the RSI crossed over 50, then the move began. We are now in the same situation. (Waited for it long...)
--- Pay attention that in Feb 2020, the correction was a deep and sharp correction, and according to Elliott wave theory, if you get the first correction, the second should be a flat correction. Here you can clearly see that we had a flat correction of about 7 months (Sep 2020 - Mar 2021). Thus it is expected to at least have a fifth wave to 200. Notice that the breaking point out of the correction will be 150, which is a very beautiful psychological number.
--- Elliott wave extra analysis: there is a possibility that we are now on a 3rd wave, and the flat correction, is the first correction in that wave, if it is true, we will exceed 200.
--- Options implied volatility is 29% at current market conditions (Market moved sideways for 7 months) when the market will start pushing it will go up, and the market prediction about the price range will be higher due to higher implied volatility. Currently you can see that a price of 150 is probable, and price of 170 has 20% chance of being touched. If we take the knowledge that the trend is up it is probably more than 20%... (20% probability is given because the market thinks the flat condition will remain... for 190 days, I think that this is less probable)
As always, be diversified.
Side note: needed to buy a wrist band for my apple watch, they charge 49$ for a rubber band, and 99$ for stainless steel... the market wants what the market wants... so we join the trend :)
Technical analysis:
--- Previous waves up were 83% UP and then 137% UP, thus the conservative wave is expected to be 80%.
--- Before previous up moves, RSI touched 30, and when the RSI crossed over 50, then the move began. We are now in the same situation. (Waited for it long...)
--- Pay attention that in Feb 2020, the correction was a deep and sharp correction, and according to Elliott wave theory, if you get the first correction, the second should be a flat correction. Here you can clearly see that we had a flat correction of about 7 months (Sep 2020 - Mar 2021). Thus it is expected to at least have a fifth wave to 200. Notice that the breaking point out of the correction will be 150, which is a very beautiful psychological number.
--- Elliott wave extra analysis: there is a possibility that we are now on a 3rd wave, and the flat correction, is the first correction in that wave, if it is true, we will exceed 200.
--- Options implied volatility is 29% at current market conditions (Market moved sideways for 7 months) when the market will start pushing it will go up, and the market prediction about the price range will be higher due to higher implied volatility. Currently you can see that a price of 150 is probable, and price of 170 has 20% chance of being touched. If we take the knowledge that the trend is up it is probably more than 20%... (20% probability is given because the market thinks the flat condition will remain... for 190 days, I think that this is less probable)
As always, be diversified.
Side note: needed to buy a wrist band for my apple watch, they charge 49$ for a rubber band, and 99$ for stainless steel... the market wants what the market wants... so we join the trend :)
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🧪 Feel confident with science and logic
💰 Trade your way to success and freedom
🧪 Feel confident with science and logic
💰 Trade your way to success and freedom
