Am I right this time?

15 de jan. de 2020

Wave encountered a key support/resistance line and looks like it'll be rejected. In addition to this, we have bearish divergence on both the MACD and RSI. Given the corrective nature of the wave, I still doubt it's the start of the bull market. Tread carefully.

As usual, I have no idea what I'm doing and still learning.

15 de jan. de 2020

Nota

Another note of interest is that the rejection is close to the 0.618 retracement of the Y wave. I think it's highly probable that we should expect the Z wave sometime soon.

15 de jan. de 2020

Nota

To justify why I think it's a corrective structure as opposed to an impulse is the appearance of the wave. It's far too choppy rather than a smooth impulse. There's nothing to say it won't herald the bull market but I think it's too improbable.