Updated
APHA Finally a Dip
Always 3 possibilities (up, down, sideways).
If my proposed count is correct, then this would be a wave 4. The guideline of wave alternation suggests we should expect a flat or a triangle. Trend lines and channels support this possibility. Alternatively, there is a lurking gap.
I've drawn in a triangle and a gap close. That gap close would likely be a correction of a larger degree, and suggest that my micro count is wrong.
For now, the larger degree is very bullish, but extended.
$7.65 was weekly resistance. Will it hold?
If my proposed count is correct, then this would be a wave 4. The guideline of wave alternation suggests we should expect a flat or a triangle. Trend lines and channels support this possibility. Alternatively, there is a lurking gap.
I've drawn in a triangle and a gap close. That gap close would likely be a correction of a larger degree, and suggest that my micro count is wrong.
For now, the larger degree is very bullish, but extended.
$7.65 was weekly resistance. Will it hold?
Note
Target would be $9 (wave 1 = wave 5) or $9.37 (1.618 wave 4).Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.