Hi guys, here's a small update on LIGHT (AKA Philips Lightning).
As we can see the bullish trend is now retesting the exponential growth curve that started around 15th may, this is where the recovery from COVID-19 started.
Since we don't have a resistance layer there, things might turn out positive for us. But we can't be too naïve and therefore not calculate any risk for that matter.
As we can see the bullish trend is now retesting the exponential growth curve that started around 15th may, this is where the recovery from COVID-19 started.
Since we don't have a resistance layer there, things might turn out positive for us. But we can't be too naïve and therefore not calculate any risk for that matter.
Note
After the 5th elliot wave you see we went down to the exponential curve to retest the growing stocks, which could mean a correction wave is coming up (elliot wave ABC).3m timeframe:
Note
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Note
The retest on the 15m chart: Note
Correction wave started a little later than expected.Correction wave
Expectation: june 3rd 16:00 (UTC+2)
Result: june 8th 12:00 (UTC+2)
I'm expecting this drop can go as low as point (A), moving down to 20.4.
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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.