STRAIGHT FORAWRD BREAK OF THE 17 (YELLOW DOTS) EMA AND TEST, WHICH IS CONFIRMED BY THE 2 (TEAL LINE)-6 (PINK LINE) EMA BUMP AND RUN AND THE HEIKIN ASHI PRICE ACTION IS BULLISH. IN ADDITION, THE PHOENIX INDICATOR BY DAVID WARD (TRADINGVIEW HANDLE IS WYCKOFFMODE) IS ALSO INDICATING BULLISH PRESSURE. MY TARGET FOR THIS SWING TRADE IS $8.03ISH, WHICH IS BASED ON ELLIOT WAVE AND FIN RETRACEMENT ANALYSIS. ALSO THE CORRECTION FORMED A FALLING WEDGE (abcde) NOT SHOWN AND THE MEASURED MOVE WAS ROUGHLY THE SAME AS MY TARGET.
Comment:
This is on the daily time frame
Comment:
Actually, yesterday's candle can be considered the actual test of the 17 EMA on the daily time frame and makes more sense for the Elliot wave analysis. I use the 17 ema because the math works better with the Heikin Ashi candles, based on research and not my math abilities.