TLRY sign of reversal
Simply put, a motive wave is a price movement in the direction of the main trend. In other words, each motive wave is a step forward during a rally. Motive waves always subdivide into five smaller waves according to certain rules.
After 5 waves we expect a corrective move . Most of the time that move is a pullback.
Then we can expect another serie of 5 moves. How strong they are? Depends on the buyers down low.
After 5 waves we expect a corrective move . Most of the time that move is a pullback.
Then we can expect another serie of 5 moves. How strong they are? Depends on the buyers down low.
Nota
We want 5 more waves down for the wave C.
Idealy we dont overpass 0.65 retracement fib.
We want to sustain the bullish pitchfork and not to fall out of it.
Nota
Abnormal retrace for a zig zag. The current retracement of a suggested wave B in this correction went way too high which could indicate the market strenght.
For the moment i see 4 waves developed and potentially 5th on the way.
Bullish algo active still. 0.65 is the last stand for bull algos.
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This could have been the bottom. I see 5 waves in.
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2 Perspectives
Nota
Yellow (1) (2) still alive...
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This could be the bottom.Nota
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Fixed count. Tired , didnt notice the flat in the wave C which is invalid.
If sideways combo, then it would be fine
W- ZZ
X- ZZ
Y- Flat
Nota
Adding bearish perspective . Since the green area is my last stand of support for bullish case
Nota
Green box reached. I want to see it from here.
Tho i could see one more leg down. Anyway, i would start being unintrested in longs if we go way too low.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.