Now the price completed the corrective phase and now is in the bullish phase as wave 5. We are in a motive wave phase, after the textbook setup of the zig-zag correction pattern with a wave C as an ending diagonal pattern.
At the moment, the price is returning to the local descending channel. Now we are at the lower border. I am waiting for a return to the center of the channel, where the resistance level is. If we do not break it, then we go to retest the lower border of the channel, where the local support level is.
Have a nice trade!
At the moment, the price is in a sideways movement range, near the lower border. A false breakout with an exit to the top and a return to the sideways range is possible, but the scenario of a level retest with an exit to the top without a breakdown is more likely.
Have a nice trade!
Pure greed has driven TESLA to ridiculous heights.
Robinhoods are in this market. Most of them from China.
Parabolic expansions tend to fall - sometimes very quickly.
Stay tuned. Stay safe.
Wash your hands and face! 😂
Eat veg! LOL.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied....
As we can see on the updated chart from yesterday, we see that price made a nice correction in wave (iv), and then made a nice reversal higher near the 38.2 Fibonacci projection, which usually acts as a support and a turning point for fourth wave corrections. Anyhow we now believe price can still reach higher levels within blue wave iii around the 1.618 and 2.0...
If our view above is correct then JPY will gain even more in the next few sessions or even days. That said, we will keep a close eye on USDJPY for possible shorts after a pullback as leg down from March high looks like a new five wave decline in play. Our special focus should then be on black wave 4 for shorts, while 112.01 level remains in...
