Bullish Wolfe Wave on $VET ?
I've been following 
VET since October 2017 and not worried about current correction. Green box in the chart is the area where I expect a bounce.
Current price pattern looks like a falling wedge (reversal pattern).
Yesterdays dump however reminded me of a different pattern,when I saw price dropping a bit out of the pattern: the Wolfe Pattern......
Wolfe Pattern is a reversal pattern where you can trade the bounce or the Break Out. As I strongly believe that past price movements show suppression and accumulation, I would wait for the break out. Red lines are the Estimated Price Arrival and showing a quick move of approx 35%.
I don't trade the Wolfe Wave in Crypto, I'm more curious to see if this pattern is going to play out but I'm reserved about it due to the strong price suppression and my initial bounce target.
More info about Wolfe Wave Pattern: investopedia.com/articles/trading/05/040405.asp
VET since October 2017 and not worried about current correction. Green box in the chart is the area where I expect a bounce. Current price pattern looks like a falling wedge (reversal pattern).
Yesterdays dump however reminded me of a different pattern,when I saw price dropping a bit out of the pattern: the Wolfe Pattern......
Wolfe Pattern is a reversal pattern where you can trade the bounce or the Break Out. As I strongly believe that past price movements show suppression and accumulation, I would wait for the break out. Red lines are the Estimated Price Arrival and showing a quick move of approx 35%.
I don't trade the Wolfe Wave in Crypto, I'm more curious to see if this pattern is going to play out but I'm reserved about it due to the strong price suppression and my initial bounce target.
More info about Wolfe Wave Pattern: investopedia.com/articles/trading/05/040405.asp
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.