Stacks / TetherUSEducation
STX - Corrective wave ended
We can see how we clearly have 5 waves (Yellow line) with 3 impulsive moves.
We can observe how each impulsive move is followed by another 5 clear waves with its respective higher highs (Blue Aqua line).
Those are then followed by 5 corrective waves also (Qhite line).
Adding 2 Fib retracement patters we get a range of what, in my opinion, could be the bottom for the current corrective wave we are experiencing right now.
We the get a price range between the short term move fib (38.20%) and the long term fib (23.60%).
What could be next?
This should come followed by a new 5 small waves and possibly form another 5 corrective waves, creating a new accumulation schematic.
Like and follow
Raf
We can observe how each impulsive move is followed by another 5 clear waves with its respective higher highs (Blue Aqua line).
Those are then followed by 5 corrective waves also (Qhite line).
Adding 2 Fib retracement patters we get a range of what, in my opinion, could be the bottom for the current corrective wave we are experiencing right now.
We the get a price range between the short term move fib (38.20%) and the long term fib (23.60%).
What could be next?
This should come followed by a new 5 small waves and possibly form another 5 corrective waves, creating a new accumulation schematic.
Like and follow
Raf
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.