Waiting for a clean flag breakout to retest the prior high.
Sub waves indicate this could be a 5 -3 - 5 with the B wave being a running flat. Expecting 5 waves up to complete the zigzag hitting the 100% extension then pushing price down to break the $0.70 low.
Notes: If we do get this bull run, watch the 161.8% extension as this could also be the wave 3 extension wave.
If so, wave 2 would ultimately be the FLAT.
As the rule of alteration suggests, if the wave 2 is a flat, we expect wave 4 to be a zigzag.
This would be an extreme case which is highly unlikely.
Preferred scenario. Break flag for upside, hit 100% extension, then look for sells all the way through to $0.70.
Feel free to comment below.
Sub waves indicate this could be a 5 -3 - 5 with the B wave being a running flat. Expecting 5 waves up to complete the zigzag hitting the 100% extension then pushing price down to break the $0.70 low.
Notes: If we do get this bull run, watch the 161.8% extension as this could also be the wave 3 extension wave.
If so, wave 2 would ultimately be the FLAT.
As the rule of alteration suggests, if the wave 2 is a flat, we expect wave 4 to be a zigzag.
This would be an extreme case which is highly unlikely.
Preferred scenario. Break flag for upside, hit 100% extension, then look for sells all the way through to $0.70.
Feel free to comment below.
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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.