seasonality July 24th - Aug 3rd: -3.34% return
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Wednesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. We need to gap above $43.27 in order for longs to be in the equation. If we don't its gonna be hard for the bulls to take that level over.
If we don't gap above $43.27 its very possible we see new lows.
CHOCH @ $44.19
Look for support at the $42 and $41 level.
Short term: Down trend
Long Term: Uptrend
Stay blessed
Elliott wave: Currently in a 5 wave correction, we either completed the wave 5 or we are currently in it. Expecting a rally either tomorrow or Wednesday to complete the B wave.
Structure: We just completed our first structure to the downside which tell's me there is now upside liquidity. We need to gap above $43.27 in order for longs to be in the equation. If we don't its gonna be hard for the bulls to take that level over.
If we don't gap above $43.27 its very possible we see new lows.
CHOCH @ $44.19
Look for support at the $42 and $41 level.
Short term: Down trend
Long Term: Uptrend
Stay blessed
Trade active
Trade closed: target reached
Trade closed: target reached
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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.