ARPAUSDT Analysis - 06.05.22
The PA is somewhat confusing, I can identify 3 scenarios. First are the falling wedges(a-e). Next is a parallel channel (abc). In both cases its a correction. However looking at the overall data, a correction to the downside doesn't make sense cause we've a down trend. Which brings us to a possible ending diagonal(1-5). In this case wave 1-3 have already played out, we might see a relief till about .055s marking the completion of wave 4 and the beginning of the final leg down wave 5(.048s). if indeed its an ending diagonal then, upon breakout, we will override the whole ending diagonal and lend close to .066s. Same goes for abc, a full retracement is a given.
Finally, there is a 4th scenario. my PA is off and nothing described above will happen.
That's it for now. Safe trading, and due diligence is advised!
Finally, there is a 4th scenario. my PA is off and nothing described above will happen.
That's it for now. Safe trading, and due diligence is advised!
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.