$QS Quantum Scape EW 4 ABC Corrective Rally??
Looking at QS
great reaction off the lows
clear bearish down trend. Giving it a basic EW count here on a large degree, the move down has been massive from $135 to $6........2 years ago people were screaming for lower prices wishing they had bought, well, was too late then, now we are in a bear market with no clarity if a new bull market has started or not, regardless of bull or bear market, we can say that QS at under 10$ is pretty damn close to its low of ~$5......There is no perfect entry or EW count, by the time we can get those 'perfect' analysis, its already too late. So DCA your position, if goes lower, wait for nice discount, buy more. If goes up, 30-40%, take some profits, and just keep doing it over n over until you have a massive portfolio that you built by DCA strategy, taking profits, and buying more.
In terms of targets and current wave count, were favoring the move up as an ABC corrective rally to complete potential wave (4). We're also favoring the ABC as incomplete, with the 1st leg completed, and wave 2 in progress before starting wave 3 higher. If it falls below the low, then we must change the view and count (and consider the proposed ABC completed as a smaller corrective wave). We are favoring the upside however, but can be wrong.
Best way for entry; DCA.
great reaction off the lows
clear bearish down trend. Giving it a basic EW count here on a large degree, the move down has been massive from $135 to $6........2 years ago people were screaming for lower prices wishing they had bought, well, was too late then, now we are in a bear market with no clarity if a new bull market has started or not, regardless of bull or bear market, we can say that QS at under 10$ is pretty damn close to its low of ~$5......There is no perfect entry or EW count, by the time we can get those 'perfect' analysis, its already too late. So DCA your position, if goes lower, wait for nice discount, buy more. If goes up, 30-40%, take some profits, and just keep doing it over n over until you have a massive portfolio that you built by DCA strategy, taking profits, and buying more.
In terms of targets and current wave count, were favoring the move up as an ABC corrective rally to complete potential wave (4). We're also favoring the ABC as incomplete, with the 1st leg completed, and wave 2 in progress before starting wave 3 higher. If it falls below the low, then we must change the view and count (and consider the proposed ABC completed as a smaller corrective wave). We are favoring the upside however, but can be wrong.
Best way for entry; DCA.
Comment:
Comment:
RSI got reset on both sides, helping us to favor further upside
Comment:
first target was reached (via fib extension off wave (3) ending to A & B)