So far everything is playing out perfectly, we had our bounce due to selling exhaustion. We are currently at our first resistance $19.20. If we break this resistance there is a good chance we break up to the $20.72 to complete our wave 4. Now keep in mind it's christmas time, typically we rally so if we do break higher i won't be surprised.
Eliiot wave: We are currently in a pullback creating our wave 4, we can potentially go as high as 20.33 and still be a valid wave 4 before heading back down to wave 5 sitting at the $16 range.
Indicators:
MFI: We continue to move towards the oversold condition, that being said we can still move higher.
TSV: Continues to paint green candles but if u look at lower time frames divergences are appearing.
ADX: The adx is not respecting this current uptrend, its headed lower which means this leg up lacks strength
Patterns: We broke the uptrend channel, looking to possibly retest the previous support.
Thanks
God bless
Eliiot wave: We are currently in a pullback creating our wave 4, we can potentially go as high as 20.33 and still be a valid wave 4 before heading back down to wave 5 sitting at the $16 range.
Indicators:
MFI: We continue to move towards the oversold condition, that being said we can still move higher.
TSV: Continues to paint green candles but if u look at lower time frames divergences are appearing.
ADX: The adx is not respecting this current uptrend, its headed lower which means this leg up lacks strength
Patterns: We broke the uptrend channel, looking to possibly retest the previous support.
Thanks
God bless
Comment:
to close to call, we may try to fill the gap, if we get rejected at 17.9 i expect the wave 5 target to hit.
Comment:
start looking for reversals!!!
Comment:
i think we fill the gap tomorrow before heading back down
Trade closed: target reached:
just made a update check it out