Evening star one of reliable candle stck pattern is formed followed by a gap down red candle that is forming, that indicates the investor sentiment has changed
stochastic are in overbought condition
If you check my elliot wave analysis , i pointed out that we are in wave 5 ,Elliot wave analysis showed that wave 5 should hit 323, it took us to 320 pretty close, hence elliot wave anlaysis shows the same indication.
Hi i think you are right but i worried we were only in wave 3. How do you determine that its wave 5? Thanks!
Wallstmessiah
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@Salsy, because wave 4 took us to 278 that rapid crash and then we have impulse that took us past three. now even if we think its wave 3, wave 4 min retracement will be 280
Salsy
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@Cooldude.0090, i need to read more im just learning to identify the waves, thanks for your analysis.. ! i will follow you to learn :)
Wallstmessiah
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@Salsy, sure your welcome, let me know , i read the wave principle