Beautiful Extended Flat pattern in play for Luna. If I were trading or holding LUNA, I'd hit the sell button, ideally at the top.
Comment:
Luna's reversal pattern at play:
Comment:
micro reversal pattern invalidated. macro, not so much.
Comment:
Technically, according to Elliott Wave studies, this formation became doubtful at the red line. Not invalidated, but doubtful. Looking closer at the pattern, it's hard to conceive it as being anything else.
I've looked closer as to how this B Wave could possibly be constructed and more specifically, why the pump has been in such elongated form. Considering that B Wave has to have 3 swings, it looks that we got a small impulsive wave for (a) followed by a very extended diagonal wave in (c).
With this pattern already being in a doubtful state, invalidation is very much possible but I feel pretty good about the outcome at this point. I'm a believer that LUNAUSD is due for a very steep drop -- but I have been wrong before.
Technically, according to Elliott Wave studies, this formation became doubtful at the red line. Not invalidated, but doubtful. Looking closer at the pattern, it's hard to conceive it as being anything else.
I've looked closer as to how this B Wave could possibly be constructed and more specifically, why the pump has been in such elongated form. Considering that B Wave has to have 3 swings, it looks that we got a small impulsive wave for (a) followed by a very extended diagonal wave in (c).
With this pattern already being in a doubtful state, invalidation is very much possible but I feel pretty good about the outcome at this point. I'm a believer that LUNAUSD is due for a very steep drop -- but I have been wrong before.
Comment:
Luna looks for $110 before sub $10.
Presently, the pending drop to $85 should get bulls to the $110 range.
Presently, the pending drop to $85 should get bulls to the $110 range.
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