Redrew waves using the linear scale. End of wave 5 soon, possibly correction. Should be violent based on the week's movement but with all the new FOMO investors it may not be. I think the end of the downtrend is coming but the overall drawing (h&s pattern) is speculation
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Trade active:
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Trade progressing nicely as you can see. Expect the unexpected. It's possible to go even as low as 0.003 if we consider this 5 wave impulse to be wave 1 of a larger wave and the current correction to be wave 2. Wave 2 can go as low as wave 1 and still obey the rules.
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Currently at the right shoulder of the pattern I drew, expect sharp downturn today if this is the right call. Also in my original update I meant "end of uptrend" not downtrend obviously. Tiring week.
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In addition to the head and shoulders we have a symmetrical triangle forming. As you know this is a neutral pattern, but given the h&s accompanying it I'm expecting it to break downwards
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H&S played out perfectly. We're moving towards oversold now and godmode has been pretty low for a while. Could see some pullback today but overall I still think lower. Probably need to test 0.008 and re-evaluate
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Reversal pattern here, interesting next few hours
Reversal pattern here, interesting next few hours
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Broke it downwards. Down we goooooo
Broke it downwards. Down we goooooo
Trade closed manually:
Closed, expecting bullish now, correction should be over
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Hit the bottom I called originally