$ATOM outlook- 16.02.22
- Scenario 1:
- We fail touch the yellow line but fail to break it, expectations are a pullback that is likely to send us to the red line, and at most the red line. In whatever case, this gives a window for a nice short.
- The idea behind is we are playing the eliiott wave(ew) 1-5, meaning shorting the correction is ideal because the wave up is complete and then a counter trend movement is next.
Scenario 2:
- We got ourselves a correctional wave. At ceteris paribus, we will have c ending in the white rectangle area. If the correction is truly ABC and not A-E, a pullback to the green line is a given otherwise it might drag a bit, but eventually it will hit.
Scenario 3:
- Both cases are totally wrong, and hence the analysis is flawed, in which case the market takes a different turn.
- Note: The aim here is to wait for the bias fulfillment and then, and only then take the next step, else, sitting on the sidelines and revisit the analysis to see what went wrong is the pnly way out.
Trade safe!
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