Testing this important area. I'm guessing we will hang out here for another month or so before heading towards the next ceiling, but my guess is if we are heading that way there won't be much pause at the ATH level. This chart is mostly for curiosity of how it will play out.
Big W On the Daily showing pitchfork setup.
ok it's not the most perfect, but it is looking like a nice setup.
Could this many lines actually lead to a good prediction? Time will tell.
I may be calculating my waves wrong, but as long as we stay above 3 i think will take a 5.
Trending towards the center line, red is extremes. This is a Schiff pitchfork
This is my first serious attempt with Elliot wave and using pitchforks. To me it looks like REN is finishing this move with it's 5th wave. Target is at the top of the blue channel where the 5th is placed.
Green is 4h hour (main window) and yellow lines are 1week timeframe (larger chart you can see here below:) Any thoughts?
The main timeline preview is the daily. Weekly = Yellow lines 4h = Green lines and then this is RLCETH on the weekly.
RLC seems to be breaking out on a larger scale. If it confirms by closing above with a second channel on the weekly then I predict rlc will keep rising quite a bit. Closing below on the second candle would be a rejection. In the short term it looks like RLC will continue to go up, although I expect a test of the upper part of the channel at some point. ...
Log chart. Breaking the top or the bottom will indicate long term trend change.