Reasons for this pattern :
Target : Green Zone
Probability of pattern : Medium Probability
Pattern : WXY (Double Zigzag)
Other note : We have "Higher Time frame Bearish Divergence"
Pattern reasons :
- Rsi has a A -> C wave personality
- Volume is indicating we have low volume in the potential "C wave"
- We can count an A wave and a potential C wave diagonal (Contracting)
-Still in common extension target area
For this pattern to be aggressively invalidated :
Has to break out of the "Contracting Trendlines"
What I don't like (Personal Feedback" -
- I dont like how we are beginning to break out of the "Box shape"
from our Previous AH "Parallel channel"
- If we break the contracting trendlines and begin to show impulsive personality
I believe first target would be at (4460 -4500)
Alternate bullish pattern - Bullish (1-2 , 1-2 or 1-2 and the 3rd wave)
Target : Green Zone
Probability of pattern : Medium Probability
Pattern : WXY (Double Zigzag)
Other note : We have "Higher Time frame Bearish Divergence"
Pattern reasons :
- Rsi has a A -> C wave personality
- Volume is indicating we have low volume in the potential "C wave"
- We can count an A wave and a potential C wave diagonal (Contracting)
-Still in common extension target area
For this pattern to be aggressively invalidated :
Has to break out of the "Contracting Trendlines"
What I don't like (Personal Feedback" -
- I dont like how we are beginning to break out of the "Box shape"
from our Previous AH "Parallel channel"
- If we break the contracting trendlines and begin to show impulsive personality
I believe first target would be at (4460 -4500)
Alternate bullish pattern - Bullish (1-2 , 1-2 or 1-2 and the 3rd wave)
Note
Just to add to this i obviously need the 4th wave in the diag to overlapp
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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.