Potential Double Bottom on Daily Timeframe. We may be in the C phase of the Elliot Wave so I want to see if we can retrace the previous B wave at the 38%, 61%, or 100% level. The current daily candle has low sell volume. We are also at and oversold point of the RSI as it is attempting to cross up past the 20 level. MacD has also crossed the zero line and may lose bear momentum in the near future. Let's see what happens.
Still hasn't reached our first target. Looks like we may in the middle of an "ABC" corrective wave pattern on a smaller timeframe. Let's continue to be paytient and see if over time we will get the bullish move we are looking for which is anywhere between the 38% to 61% of wave B. On the current candle, we closed with a doji while sell volume lowered a bit. Let's see what happens!
Still hasn't reached our first target. Looks like we may in the middle of an "ABC" corrective wave pattern on a smaller timeframe. Let's continue to be paytient and see if over time we will get the bullish move we are looking for which is anywhere between the 38% to 61% of wave B. On the current candle, we closed with a doji while sell volume lowered a bit. Let's see what happens!