As per Elliott wave theory, I think Matic, after an extended 5th wave is going to have an extended C wave (C = 1.618 x A).
So, I would short matic in an area between 1.80 and 2.11 (depending on the bounce from 1.3941).
0.7922 would be my lowest target for matic before upside continuation.
Let me know your take on this !
So, I would short matic in an area between 1.80 and 2.11 (depending on the bounce from 1.3941).
0.7922 would be my lowest target for matic before upside continuation.
Let me know your take on this !
Order cancelled:
Not enough bounce to start shorting yet ! May be we will get some descent bounce from 1 $ area !
Also, if Matic drops below 0.7922, it will indicate a trend reversal and in that case it will keep on dropping till 0.40 ! But I personally think that Matic will have to jump from much higher altitudes (like 4 $) to reach those lower lows !
Now you know when to go long !
Also, if Matic drops below 0.7922, it will indicate a trend reversal and in that case it will keep on dropping till 0.40 ! But I personally think that Matic will have to jump from much higher altitudes (like 4 $) to reach those lower lows !
Now you know when to go long !
Comment:
Matic approaching the 0.40 $ level as I mentioned in the Jan 24 update. I would take a small initial long entry here and accumulate as we go down with SL at 0.27 $.