Verasity (VRA) to make impulsive 20000% wave in 12-16 weeks?

On the above weekly chart price action has corrected 97% since late 2021. A number of reasons now exist to consider a long positions. They include:

1) Price action and RSI resistance breakouts.

2) Trend reversal confirmation. Higher highs higher lows replace lower highs lower lows.

3) Support and resistance. Price action finds support on past resistance on the as is indicated by the Gaussian Channel. The trend reversal is also captured by the Gaussian channel with the change to Green.

4) Weekly candle print on the Gaussian Channel. (Black arrows). Price action confirms a bull market as the channel flips green + confirmed candle support. Should the following weekly print a green candle.. look left.

5) The 1st impulse wave returned a massive 21900% return from January 2021 Until March 2021. Yes, you read that correctly 12 weeks only. Should this impulsive wave repeat in the same time a 200x will be collected before June/July this year.

6) Each higher low that has printed on this chart did so at the Fibonacci 0.38. Look left. Price action is currently at the 0.38.

Is it possible price action corrects further? Sure.
Is it probable? No.

Ww

Type: trade
Risk: <= 6%
Timeframe for long: until mid April.
Return: 200%

Comment:

On legacy support / resistance. Look for a following weekly close in the green for confirmation, otherwise void.

Weekly

Order cancelled:

Price action has entered the flag pattern on the weekly. Would not be responsible to keep the idea open until there is weekly confirmation of support on the flag.

When support is confirmed on the weekly, the idea can be revisited.

Weekly