posting this as per a special request.
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took a peak at $amrs this evening, and i noticed something extremely bullish forming.
from the march low of 2020, we saw wave's 1-2-3 play out perfectly; hitting the corresponding algo targets wonderfully.
$amrs has been in a pretty nice area of consolidation up here working on completing wave 4 ever since the local peak of $23.
wave 4's generally take the longest time to play out, and usually appear very choppy by nature.
upon taking a closer look, i noticed a textbook ewt pattern playing out - an abcde.
these generally appear in wave 4's, and wave 5 almost always launches once the correction is completed.
triple bullish divergence on the 4h timeframe, and i have reason to believe that wave E of wave 4 is finally in.
Strict stop loss at $12.
Wave 5 target = $42
-------
took a peak at $amrs this evening, and i noticed something extremely bullish forming.
from the march low of 2020, we saw wave's 1-2-3 play out perfectly; hitting the corresponding algo targets wonderfully.
$amrs has been in a pretty nice area of consolidation up here working on completing wave 4 ever since the local peak of $23.
wave 4's generally take the longest time to play out, and usually appear very choppy by nature.
upon taking a closer look, i noticed a textbook ewt pattern playing out - an abcde.
these generally appear in wave 4's, and wave 5 almost always launches once the correction is completed.
triple bullish divergence on the 4h timeframe, and i have reason to believe that wave E of wave 4 is finally in.
Strict stop loss at $12.
Wave 5 target = $42
Comment:
i'll do an update on this tomorrow.