WCT - TA
Updated
1. Price candle break out MA 200 on 29 Mar '23 give strong signal the price movement may change direction to bullish soon.
2. Price candle testing MA 200 on 9 May '23 to 3 July '23 to shake out weak retailers. Price candles break out MA 200 again on 4 July '23.
3. GC (Golden Cross) MA 50 & MA 20 happen on 13 July '23 give another strong signal the price is build up the uptrend momentum and ready for bullish.
4. Price candle and MA 200+MA 50+MA 20 has aligned altogether give sign the price is ready for bullish.
5. Price candle has BO strong resistance (0.450-0.465) on 11 Aug 2023 and PB take place to setup a support area at the same price range. This the 1st EP.
6. Two propose EP stated in this WCT TA. 1st EP already happen. Right now, price candle move to next strong resistance. Price may PB to form a new support and this is a possible 2nd EP once the price candle BO and closed above CMT.
7. EW count analysis includes in this TA together with sub wave count. Target wave 3 is still far away. Lot of chances to entry this counter when price candle PB to MA 20/MA50.
2. Price candle testing MA 200 on 9 May '23 to 3 July '23 to shake out weak retailers. Price candles break out MA 200 again on 4 July '23.
3. GC (Golden Cross) MA 50 & MA 20 happen on 13 July '23 give another strong signal the price is build up the uptrend momentum and ready for bullish.
4. Price candle and MA 200+MA 50+MA 20 has aligned altogether give sign the price is ready for bullish.
5. Price candle has BO strong resistance (0.450-0.465) on 11 Aug 2023 and PB take place to setup a support area at the same price range. This the 1st EP.
6. Two propose EP stated in this WCT TA. 1st EP already happen. Right now, price candle move to next strong resistance. Price may PB to form a new support and this is a possible 2nd EP once the price candle BO and closed above CMT.
7. EW count analysis includes in this TA together with sub wave count. Target wave 3 is still far away. Lot of chances to entry this counter when price candle PB to MA 20/MA50.
Trade active
Currently price candle in upward momentum, reach resistance area.Price action will continue the upward momentum hugging MA 20/MA 50 line.
Note
Price candle BO the previous resistance, If current price candle able to Closed above resistance area. upward momentum will continue.Note
Price candle has BO the previous resistance (0.55-0.56). Expected price movement will continue upward momentum to next resistance (0.60-0.61). In EW perspective, TP for main wave 3 is still far away. Expected price movement will form impulsive sub-wave pattern.Note
Price candle may PB to MA 20/MA 50 form new support area
AHI
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.