gmgame

FCT potential EW running triangle

POLONIEX:FCTBTC   None
6
FCT started a consolidation pattern that looks like the beginning of an ABCDE Elliott Wave Running Triangle.
If C wave bottoms as expected, let's look at a zigzag formation of the DE wave for confirmation.

Buy target would be at the end of E wave
Comment: C wave ended, bouncing off support. So far so good...
Comment: On track, we've double bottomed and now en route to higher grounds. Potential resistances at .111, .118 and .122 where we should see the top of the first shoulder
Comment:
Comment: FCT didn't break the downtrend, and a bit early for a shoulder formation. The next leg will tell it all

Comment: FCT didn't get enough momentum to rise past its downtrend. Pattern is obviosuly broken. Idea closed :/

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.