LunC short term top (Risky call - testing my EW theory)

Updated

I believe this is the top area of the (macro) wave 3 on LunC. A lot of people are gonna be angry with this call. Also, wave 3 is generally the most parabolic wave so it would be very dangerous to listen to a top call. I don't know what the opposite of 'catching a falling knife' is - but this is it.

This of course means we are still waiting for a wave 5 though. So this means i'm only bearish *SHORT TERM*. This doesn't mean I'm calling THE top of the whole move; so I don't want anyone crying for me calling the overall move to be over.

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Just waiting for a macro wave 4 to play out before jumping back in. Waiting for price to base out first.

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Just conjecture here, I don't yet know how the wave 4 is going to play out. We have an abc already. It could be an A of something like an ABCDE. Don't get chopped up. If you are waiting for a re-entry then let the volatility fall first.

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A deeper retrace could look like this, although I'm sceptical it would go there right now because of how low the shorter timeframe's RSI is getting already:

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My secondary count now looks like it could be in play. In which case we are still in the wave 3.

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Following my primary count. Need to see how the C leg of the correction is going to go:

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I believe we have broken up and out. Providing it doesn't suddenly fail here the next target is 0.0004 - 0.00047.

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LunC may have confirmed a wave 5 with the breakout a few hours ago.
Extrapolated targets would be between 0.00089 - 0.0012.

thekevin

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