SQ is offering a text book example of ideal setup to go long !
It is showing a beautiful ABC form of correction with clear subdivisions of wave A, B and C. There is just one leg down to complete the structure of correction. More beautiful is minor final leg down is going to make a fractal 5 wave downgoing impulse itself.
Proposed support zones have formed by cluster of different Fibonacci levels of different Elliott wave cycles including 0.382 and 0.50 retracement levels of last impulse rally from 2020 Mar 18th to 2021 Feb 16th ( from 32.33 to 283.19 USD). This last rally is probably wave 3 of larger Elliott wave cycle and we are now in wave 4. We are going to catch upgoing wave 5. Larger Elliott wave cycle wave count will be published separately.
I guess that stochastic indicator in both weekly and daily time frames will be in oversold zone when price reaches to support zones which adds another piece of ideal setup trading to SQ.
Please Do Not Forgot that we need a bullish sign to go long at every proposed support zone.
If true , more than 50% profit is waiting for you. Try not to miss the chance.
Good luck every one and enjoy trading.
It is showing a beautiful ABC form of correction with clear subdivisions of wave A, B and C. There is just one leg down to complete the structure of correction. More beautiful is minor final leg down is going to make a fractal 5 wave downgoing impulse itself.
Proposed support zones have formed by cluster of different Fibonacci levels of different Elliott wave cycles including 0.382 and 0.50 retracement levels of last impulse rally from 2020 Mar 18th to 2021 Feb 16th ( from 32.33 to 283.19 USD). This last rally is probably wave 3 of larger Elliott wave cycle and we are now in wave 4. We are going to catch upgoing wave 5. Larger Elliott wave cycle wave count will be published separately.
I guess that stochastic indicator in both weekly and daily time frames will be in oversold zone when price reaches to support zones which adds another piece of ideal setup trading to SQ.
Please Do Not Forgot that we need a bullish sign to go long at every proposed support zone.
If true , more than 50% profit is waiting for you. Try not to miss the chance.
Good luck every one and enjoy trading.
Comment:
Today, we had a trade above last high which invalidates details of final leg down. Still analysis is valid generally.
