Right now VET is completing its corrective phase, that's clear for me that we are in expanded flat right now (where B is above the start of A and C is beyond the end of A, and where each wave is longer than the previous one) but whether in 2 minor wave or primary wave 4 as a double three pattern (zigzag any three and expanded flat)
Based on extended primary wave 3, reasonable target for primary wave 5 could be at 1-1.5$
Also we see the bullish divergence (convergence) on MACD
Anyway the correction has almost ended, and in forming primary wave 5 it will be clearer to see actual price target
Based on extended primary wave 3, reasonable target for primary wave 5 could be at 1-1.5$
Also we see the bullish divergence (convergence) on MACD
Anyway the correction has almost ended, and in forming primary wave 5 it will be clearer to see actual price target
Note
In case we are in wave 2 of 5, retracement can take up to 100% of minor wave 1, and exactly this wave can show a throw under 2,4 waves' bottom line, which means that a throw over 1,3 waves' top line can occur in the fifth primary wave.This cycle shows the expanding variety where above mentioned top and bottomed lines diverge from each other. It says that wave 5 always ends beyond the end of wave 3.
Wait and see
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.
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.