Caution: Expect FI (Fiserv) to Sell OffThe fundamentals are looking great for FI no denying that. However, we have a text book 4th wave triangle you can see on the chart then with a thrust into a 5th wave. We have met the measured target of Wave A of the triangle = Wave 5. It's also interested to note a lot of top insiders have been selling at these prices. Also, not shown is monthly divergence, which is expected in a 5th wave. Expect prices to move to at least below Wave 4 around $109 or lower. Once a wave A sell off happens we can project for a wave C projection before prices could move up.
Shortsale
Bearish looking Upward wedgeIf you look at the 1M and 1W, you will see solid resistance and at the 1W you can see kind of like an upward wedge and a red inverted hammer wick. Zoom in a little to 1D and we will see kind of like an upward wedge formation going on, and that it is currently retracing from resistance, but some consolidation here could happen. From here on we will need to wait a few days, perhaps until next week or so to see what will happen next because nothing is guaranteed.
I am looking for a nice short entry at the 1H...
3% Possible Gains in the Daily Bounce!As you can see in my link about my previous weekly idea we will have a month of bear cycles, according to weekly Stochastic at risky levels. In this same link you see that I estimate a 30-35% correction. Obviously the price wont get the correction in one single candle, but I am planning to profit from the bounce up every time the market dumps. Please don’t forget to thumbs up and follow for more analysis like this.
On average market make anywhere from 5-7% partial dumps before they consolidate again and dump or pump thereafter. My strategy is first to locate the nearest historical support level (in this case 97.33) I could hedge this short position by going long with my 25% of my total order, however since I am sure that the market will keep on correcting in the mid-term I will not rush to risk myself because even if it pumps a little it will definitely not change the longer timeframe 3 weeks from now.
In this daily chart I am expecting a dump anytime from now up to the next 2 days. I will place 75% of my order at the blue line (nearest historical support level), which coincidentally reflects a 5-7% partial correction. The other 25% of the order will be placed just right at the EMA line, at 93.7.
MACD already showing negative momentum and daily Stochastic is at levels where a reversal is a more plausible scenario (instead of just oscillating at the top of the Stochastic line)
As soon as the orders fill my sell orders will be automatically placed at $99 LTC/USDT.
Thank you. Please comment your thoughts!