SMCI - sideshow until one breaks

Aug 9

Hi everyone,
Looking at this chart for a large Wave [4] to finish in a Triangle as all internal waves from the top are in 3 waves -ABC
Final wave E I am tracking 2 options :
1 - It finished and ABC into (A) now I am looking at 47$ for wave (B) then to retest the 22$ lvl for wave (C) to finish E;

• Why 47$ ? There is a huge downtrend line that in the past price reacted to;
• Previous lvl on the fib retrace of 0.887 was respected in the big structure as a B wave;
• Same support of 0.887 Fib Retrace to finish the (c) into E at 22$
• Supply and Demand volum at the 47 and 22$ lvls

2- Wave E is Finishes as we have am ABC, while very short compared to the rest, we have a 3 wave internal and is in the triangle structure;

Conclusion:
Case 1 , will take profit and wait for the 22$ test - Key on WAIT! As it could brake down…
Case 2 - stock breaks the 49$ pushing higher then retest;

Please comment, judge and be constructive, we all learning!

To mention Wiseball for his amazing Divergence Indicators - Go Check him out!

Aug 13

Note

we are going higher, lets see if we can break the 48-52 lvl then 62$ for a Full bullish momentum
Trade Active and waiting for these lvls to break to reject