BLOZF Short
BLOZF is currently playing out a triple three retracement (not pictured) - the yellow ABC correction is the final correction in the pattern, which looks as though it will complete a running flat (3-3-5). Wave B retraced already to roughly 90%. It is now on its 5 wave impulse down to complete the C Wave of the ABC correction. Within that 5 wave impulse, a triangle has formed on Wave 4. I expect the triangle to end between roughly $0.50 and $0.53, before completing it's 5th wave down. The first target for the end of Wave C is $0.43, which would be a 0.618 fib extension of Wave A to Wave B. The second target is $0.28, which would be a 1.236 fib extension of Wave 1 to 2 (within 5 wave impulse down). The third target is $0.20, which would be a 1 to 1 fib extension of Wave A to Wave B.
After completing this final ABC correction, and completing the longer triple three retracement, BLOZF is to the moon (targets TBD).
Stay tuned. Happy trading.
After completing this final ABC correction, and completing the longer triple three retracement, BLOZF is to the moon (targets TBD).
Stay tuned. Happy trading.
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