Seems as though we have started a wave 4 correction. (1W Heiken)

Updated

Here's my current long term setup for VET. I have 2 buy targets i'm looking to get in at for the start of wave 4 (either a .5 or .618 retrace from the top of impulse 3) if this wave pattern holds. In my last post, I had VET in a symmetrical triangle on the daily chart. It failed to breakout to the upside and has forced me to reevaluate the longer term prospects of VET. Obviously I could very well be wrong, but the scenario i've outlined is still VERY bullish! That said, could the bull market be over? Maybe, if Bitcoin absolutely capitulates. Only time will tell. This outlook would probably be invalidated if we got a correction far steeper than a .618 retrace, or if VET decides it still wants to continue impulse 3 and leave those who sold in the dust (which I think is unlikely, hopefully...). I personally want this correction for the chance to accumulate more VET.

Here's the link to the video I referenced about "Spider Lines".
youtube.com/watch?v=0dMAVCAheWE&t=1179s

Note

ABC corrections added.

Note

Typo, looking for the start of wave 5*** to be at those fib lines I mentioned.

Note

Daily time frame look at corrective waves with schiff pitchforks.

Note

That wick! hahaha

rlando

Also on:

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.