Simply put, a motive wave is a price movement in the direction of the main trend. In other words, each motive wave is a step forward during a rally. Motive waves always subdivide into five smaller waves according to certain rules.
After 5 waves we expect a corrective move . Most of the time that move is a pullback.
Then we can expect another serie of 5 moves. How strong they are? Depends on the buyers down low.
Comment
⋅
We want 5 more waves down for the wave C. Idealy we dont overpass 0.65 retracement fib. We want to sustain the bullish pitchfork and not to fall out of it.
Comment
⋅
Abnormal retrace for a zig zag. The current retracement of a suggested wave B in this correction went way too high which could indicate the market strenght.
For the moment i see 4 waves developed and potentially 5th on the way.
Bullish algo active still. 0.65 is the last stand for bull algos.
Comment
⋅
This could have been the bottom. I see 5 waves in.
Comment
⋅
2 Perspectives
Comment
⋅
Yellow (1) (2) still alive...
Comment
⋅
This could be the bottom.
Comment
⋅
Last stand for me
Comment
⋅
Fixed count. Tired , didnt notice the flat in the wave C which is invalid.
If sideways combo, then it would be fine W- ZZ X- ZZ Y- Flat
Comment
⋅
Adding bearish perspective . Since the green area is my last stand of support for bullish case
Comment
⋅
Green box reached. I want to see it from here.
Tho i could see one more leg down. Anyway, i would start being unintrested in longs if we go way too low.
Given the current options Delta it'll be extremely difficult to bring this below $1.50. Also, your red (1) should be a subwave 5 I think.
PK_SEND_IT
⋅
@MoneyForNothingAndPipsForFree, I kinda gave that possibility with a flat ending as well if you check all the updates on this chart... I mean, if i understand what you mean that is...
ddraper
⋅
Appreciate the update, thank you!!
sulakshans
⋅
I’m a long term investor in TLRY and I have averaged down significantly over the summer. It’s been pretty much set it and forget it, but your analysis is one of the best I’ve seen while lurking these ‘ideas’ over the last 3-4 years. Thank you!
PK_SEND_IT
⋅
@sulakshans, Yeah, sometimes its the best idea. TO accumulate if you are a believer in a project. However, the double edge sword there is that every potential impulsive looking pattern can be a phony and an asshole.
Thank you for your kind words. <3
SharedCryptoBot
⋅
cleeean!
ddraper
⋅
Thank you for your updates, your work is greatly appreciated!!