$ATOM Outlook
Scenario 1: blue
Scenario 2: (orange)
Scenario 3: (pink)
With scenario 2 and 3, the ideal entry would be the red line, that is if it is broken.
Hitting the green line is a given, upon a successful breakdown of the support around the red line.
Trade safe, due diligence is advised!
- We have a bullish outlook, playing the correction (A-E), 4 waves in.
- Descending triangle.
- Looking for a long upon bias confirmation.
- The wave count seems solid for now, however E might take longer than expected to fully develop.
- Ideal entry: slightly above D.
- Expectations: full retracement of the triangle.
Note: Breaking the below the red line invalidates this trade.
Scenario 2: (orange)
- Bearish outlook, in which case we're breaking down already.
Scenario 3: (pink)
- We are left with one leg up, which will bounce at the diagonal resistance before the final move down.
With scenario 2 and 3, the ideal entry would be the red line, that is if it is broken.
Hitting the green line is a given, upon a successful breakdown of the support around the red line.
Trade safe, due diligence is advised!
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