Reasons for this pattern :
Target : Green Zone
Probability of pattern : Medium Probability
Pattern : WXY (Double Zigzag)
Other note : We have "Higher Time frame Bearish Divergence"
Pattern reasons :
- Rsi has a A -> C wave personality
- Volume is indicating we have low volume in the potential "C wave"
- We can count an A wave and a potential C wave diagonal (Contracting)
-Still in common extension target area
For this pattern to be aggressively invalidated :
Has to break out of the "Contracting Trendlines"
What I don't like (Personal Feedback" -
- I dont like how we are beginning to break out of the "Box shape"
from our Previous AH "Parallel channel"
- If we break the contracting trendlines and begin to show impulsive personality
I believe first target would be at (4460 -4500)
Alternate bullish pattern - Bullish (1-2 , 1-2 or 1-2 and the 3rd wave)
Target : Green Zone
Probability of pattern : Medium Probability
Pattern : WXY (Double Zigzag)
Other note : We have "Higher Time frame Bearish Divergence"
Pattern reasons :
- Rsi has a A -> C wave personality
- Volume is indicating we have low volume in the potential "C wave"
- We can count an A wave and a potential C wave diagonal (Contracting)
-Still in common extension target area
For this pattern to be aggressively invalidated :
Has to break out of the "Contracting Trendlines"
What I don't like (Personal Feedback" -
- I dont like how we are beginning to break out of the "Box shape"
from our Previous AH "Parallel channel"
- If we break the contracting trendlines and begin to show impulsive personality
I believe first target would be at (4460 -4500)
Alternate bullish pattern - Bullish (1-2 , 1-2 or 1-2 and the 3rd wave)
Comment:
Just to add to this i obviously need the 4th wave in the diag to overlapp