Based on the strong time similarity between waves-C and D and likely E, there's a good chance that TRXUSD is forming a diametric, and wave-E will head lower until the end of December. After wave-E completes we'll likely get bullish wave-F and bearish Wave-G which will end in July 2020 and Jan 2021, respectively. Based on this revised count, we likely won't get a parabolic rise until the beginning of 2021. Based on the evidence, we're most likely in the middle of a count rather than the end, and the diametric makes the most sense by far based on time, price and structure. We'll know for sure based on the price reaction after wave-E, whether or not we can fully rule out the other unlikely alternatives.
Momentum is also quite bearish here and we're in a monthly bias environment which is generally very boring and choppy. The ultimate failure of many buy signals and my previous contracting triangle that I had published earlier is also very bearish and should take some time to recover fully from, giving further evidence to a diametric forming in which we will have gone relatively nowhere for several years, shaking out many weak hands and giving plenty of time to further development and adoption, and for large market makers to accumulate.
Momentum is also quite bearish here and we're in a monthly bias environment which is generally very boring and choppy. The ultimate failure of many buy signals and my previous contracting triangle that I had published earlier is also very bearish and should take some time to recover fully from, giving further evidence to a diametric forming in which we will have gone relatively nowhere for several years, shaking out many weak hands and giving plenty of time to further development and adoption, and for large market makers to accumulate.
