A Sigh of relief maybe for vechain with this small rally in the market. I believe this movement down from swing high might be a deep wave B. But i have to agree to the fact that structure wise it looks a bit weird. Taking this wave down as a descending wedge , its clearly visible that this breakout had increased volume. Will have to wait and watch if it gives a successful throwback to this wedge.
My initial potential targets for this wedge play are indicated by horizontal support/resistance lines . The one at the bottom is the last line of defense for this pattern and the related count.
This is not a financial advice and just for educational purpose. trade safely and carefully. Alts might be an exponentially risk play atm.
My initial potential targets for this wedge play are indicated by horizontal support/resistance lines . The one at the bottom is the last line of defense for this pattern and the related count.
This is not a financial advice and just for educational purpose. trade safely and carefully. Alts might be an exponentially risk play atm.
Comment:
that pink line is where 0.618 for this whole WXY lands
My detailed count for this wedge breakout