Updated
MATIC Could be sent much lower
Off the low in June, we got a full algo ending on 2.618.
Right now price is retracing from the december rally and about to lose the trend for 2nd time, so most likely local 0.886 will be tested (in case the move off the low has been impulsive)
If it was corrective however with an overlapping B most likely, 0.886 wont hold and Matic might finish this 5-legged move down on perfect fib confluence:
0.886 major
1.886 intermediate
4.236 local
Invalidation above B!
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Right now price is retracing from the december rally and about to lose the trend for 2nd time, so most likely local 0.886 will be tested (in case the move off the low has been impulsive)
If it was corrective however with an overlapping B most likely, 0.886 wont hold and Matic might finish this 5-legged move down on perfect fib confluence:
0.886 major
1.886 intermediate
4.236 local
Invalidation above B!
---
If you like my content, if it helps you gain profit, give it a like!
Thanks!
---
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
Note
since local 0.886 been violated, next target down is 1.272 @ $0.877Trade closed: target reached
$0.877 minimum target has been reached. now its all about local 0.886 holding or not for either rebound up or trend contiuation downNote
moved the counts to the right because it took a bit longer, levels maintained the same. little retrace before final leg down?
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Related publications
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.