lawlee9
Long

TWTR Long

NYSE:TWTR   TWITTER INC
72 0 3
The 3 circles in yellow show similar patterns that become smaller in sequence indicating weaker volatility. You can notice that the tops of those patterns are each lower than the previous as well. On the 3rd wave price created the first wave of the next sequence of patterns indicated by the blue circles heading down. When price broke out of the support levels, found at 34.37 and 29.43, it created another similar pattern but in a larger size indicating higher volatility. Then it made the 3rd wave, which is a larger corrective structure than the last, and found support at 13.88. The range like structure of this corrective structure indicates clear tops and bottoms. Price broke out and looks like a retest of that top. The increased volatility, the PA at the support level at 13.88, and the break of the top of the structure at 18.98 indicate that this will move back into the middle section here where price acted as a base for the first 3 series of patterns. If you notice, price never retraced to the support level from where the first blue wave broke out from at 34.37. That looks like an area I would want to target if these blue waves are indicating reversal, or correction back to the support level price broke out from. I see further moves lower after hitting 34.37.
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