Hi Everyone! The White Energy in the Weekly went up to level 133. The Red Line in the Weekly triggered upward pressure that lasts until the White Energy in the Weekly falls down to level 66.5 (Half of 133). I can see $0.36 Cents acting as support for a while. We have a new 4-Day beginning 2-Days and 6-hours from now. At which point; we may begin to see potential for a chance to slow bleed down to $0.30 to $0.32 Cent range. I'm anticipating a Second Test of Support around $0.30 to $0.32 eventually in Phase B of Accumulation. However, it will take a while to do it. Hence, the reason I said, "Slow Bleed Down to $0.30 to $0.32 Cents eventually."
REMEMBER: During a period of upward pressure; we can anticipate the price action to range sideways at worst or go upward at best during this upward pressure still seen in the Weekly. We may have to wait till the next Weekly candle before we have a chance to break down below $0.36 Cents to the $0.30 to $0.32 Cent range I'm anticipating for our Second Test of Support in Phase A.
Hope this was helpful.
Happy Trading and Stay Aewsome!
David
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UPDATE:
Beginning to look like the 0.382 FIB level at $0.4318 for this potential Automatic Rally event in Phase A of potential accumulation.
ADA Upward Pressure Continues Remainder of Current Weekly Candle
PJH11
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Hi David, in my opinion this was clear, well structured and focused analysis, I consider it one of your best overall (even though you had been up all night). Thank you for sharing your analysis and valuable time with us.