MATIC/USDT - Waiting game for $9 target
Updated
Hello traders and investors,
Today we look at polygon matic / USDT pair with the usual critical eye.
Looking at the recent moves, I see that intermediate blue wave 3 reached the 3.618 Fibonacci target with a series of 1-2 1-2 1-2 extensions.
I believe that May 2021 pick was intermediate blue 3 rather than primary purple wave 3 because I compare the size of the red minor degree wave 2 and wave 4 (he look similar 35days correction and 37 days correction).
Therefore I assume that we are currently in the creation of intermediate blue wave 4 and it will take some time to complete (1.618 or 2) of wave 2, with a retracement that should bring us in the same region of wave 4 of one less degree. (Ahimé at $0.33).
If that is the case, I will once again fill my bag and wait for the explosive composition of intermediate wave 5 of primary 3 which is currently at 2.618.
I have no rush in buying now. Waiting for the market to play out, if minor wave A red is actually the end of the entire correction, it means that it took only 38.2% of the time of intermediate wave 2 and retrace only 23.6%. It's possible, but I will be waiting for the market to unfold in the next few days before considering an alternative.
What do you think? What's your target?
Today we look at polygon matic / USDT pair with the usual critical eye.
Looking at the recent moves, I see that intermediate blue wave 3 reached the 3.618 Fibonacci target with a series of 1-2 1-2 1-2 extensions.
I believe that May 2021 pick was intermediate blue 3 rather than primary purple wave 3 because I compare the size of the red minor degree wave 2 and wave 4 (he look similar 35days correction and 37 days correction).
Therefore I assume that we are currently in the creation of intermediate blue wave 4 and it will take some time to complete (1.618 or 2) of wave 2, with a retracement that should bring us in the same region of wave 4 of one less degree. (Ahimé at $0.33).
If that is the case, I will once again fill my bag and wait for the explosive composition of intermediate wave 5 of primary 3 which is currently at 2.618.
I have no rush in buying now. Waiting for the market to play out, if minor wave A red is actually the end of the entire correction, it means that it took only 38.2% of the time of intermediate wave 2 and retrace only 23.6%. It's possible, but I will be waiting for the market to unfold in the next few days before considering an alternative.
What do you think? What's your target?
Note
Minor red Wave B completed with an ending diagonal on low volume. Waiting for impulse down Note
A-B-C playing out
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