And now you know how I derived at my target ($.17xxx cents)!
If this count is complete, then what should we expect? We should expect price to reverse higher in a very powerful way! So far, we have a fairly decent candle, but we certainly need more follow through! Remember, the market always decides!!! So, if there are not enough buyers, then price will pursue the lower target, it's that simple!
Both A & C are very similar corrections, with the A-leg being a little larger than the C-leg, and I believe the reason is simple, since price is hitting these extreme lows, there are fewer sellers now then when the A-leg was being developed, and there are more buyers entering at these prices as well, which makes the C-leg structure look tighter and more compact (IMO)... By the way, this price target could "FOIL" the plans of many that want to buy at $.15 cents!!! ( I should say, "FOR NOW"...more on that later!)
Good Luck!
If this count is complete, then what should we expect? We should expect price to reverse higher in a very powerful way! So far, we have a fairly decent candle, but we certainly need more follow through! Remember, the market always decides!!! So, if there are not enough buyers, then price will pursue the lower target, it's that simple!
Both A & C are very similar corrections, with the A-leg being a little larger than the C-leg, and I believe the reason is simple, since price is hitting these extreme lows, there are fewer sellers now then when the A-leg was being developed, and there are more buyers entering at these prices as well, which makes the C-leg structure look tighter and more compact (IMO)... By the way, this price target could "FOIL" the plans of many that want to buy at $.15 cents!!! ( I should say, "FOR NOW"...more on that later!)
Good Luck!