fresh perspective on trons Spring 'bull' run. was it even a bull run? yes it gained momentum but barely touched 50% of what it had dropped from ATH.
the 1-5 EW was incomplete and dropped off after wave 3 peaked (c of B wave maybe??).
Corrective waves usually occur as 335 or 535. With trx we saw a 5 wave A down, a 3 wave B up and now possibly another 5 wave C down.
After the B wave we have also seen a double top which indicates down movement bringing us to where we are.
Overall down is the direction its just a case of how far, reversing here at 760 sat would indicate that wave 5 is still on however a drop below could see the completion of wave C and a double bottom at 315 sat.
Prepare for all scenarios tronix.
peace :)
the 1-5 EW was incomplete and dropped off after wave 3 peaked (c of B wave maybe??).
Corrective waves usually occur as 335 or 535. With trx we saw a 5 wave A down, a 3 wave B up and now possibly another 5 wave C down.
After the B wave we have also seen a double top which indicates down movement bringing us to where we are.
Overall down is the direction its just a case of how far, reversing here at 760 sat would indicate that wave 5 is still on however a drop below could see the completion of wave C and a double bottom at 315 sat.
Prepare for all scenarios tronix.
peace :)
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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.