$ATA prime for a movement to the upside
Bullish Wolfe Waves can be seen on $ATA enclosed within a triangle which is always exciting.
I expect to breakout of this triangle through the fifth wave, retest the broken trend, then bounce up from there to continue the movement to the upside targeting the supply point at $0.2580. Wouldn't be a bad idea to also book some profits along the way at the top of the big inverted hammer at $0.2487.
RSI does not looking too bad but it also doesn't look bullish enough to include it as part of the analysis behind this bias.
What a shame that I've thought that I had posted this idea before executing my trade, but turned out I didn't. Still not too late to punt in for a long at the retest.
I expect to breakout of this triangle through the fifth wave, retest the broken trend, then bounce up from there to continue the movement to the upside targeting the supply point at $0.2580. Wouldn't be a bad idea to also book some profits along the way at the top of the big inverted hammer at $0.2487.
RSI does not looking too bad but it also doesn't look bullish enough to include it as part of the analysis behind this bias.
What a shame that I've thought that I had posted this idea before executing my trade, but turned out I didn't. Still not too late to punt in for a long at the retest.
Trade closed manually:
Fifth wave never broke the trendline but kept bouncing off it. Orders canceled.