Quick post to observe price action around a probable support zone.
What happens here will be telling of strength of the downward wave.
I expect a significant bounce here, if not we go much much deeper.
This is a follow up to my previous Warning of a Top (click).
What happens here will be telling of strength of the downward wave.
I expect a significant bounce here, if not we go much much deeper.
This is a follow up to my previous Warning of a Top (click).
Comment:
So we got a decent bounce off the bottom boundary of support
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Immediate resistance now is 27.5 cents, with a tight confluence of several fibs. .
Comment:
Bounce looking pretty good so far, has a clear Fib rhythm to it
Lets see if we get there (I think we will), and the reaction there (rejection or pierce).
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and points to a clear resistance coming, at 0.2818xxx Lets see if we get there (I think we will), and the reaction there (rejection or pierce).
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Comment:
Noticeable reaction at the blue 2.618
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ie: Fib still confirming, and the 3.618 still looks like a good target. .
Comment:
Almost there, watching closely
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Comment:
Pierced that first resistance with authority.
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Next is a Cluster of fibs, covering a pretty wide price range. Expecting it will take a few tries to work through that zone. .
Comment:
ZRX showing its fellow alts how to walk up a fib stair case
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Comment:
Retraced to the Blue 2.236
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It "should" bounce here if bull wave is to continue. .
Comment:
Pulling back prertty hard now, but approaching the 1.618, which should offer some support
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Comment:
Uh Oh, this rejection off the 2.236 is not a good sign,
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the 1.618 really needs to hold now. .
Comment:
New fib of second bounce
Need to push past Band 3 above, asap.
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but the rejections from subsequently lower fibs is not a good sign full bulls. Need to push past Band 3 above, asap.
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Comment:
Support still holding, and the bounces off subsequently higher fibs is a good sign
Currently painting a Triangle or "Pennant". I guess patter traders would expect a continuation downward from this triangle, but let see.
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but bulls are having a tough time gaining momentum. Currently painting a Triangle or "Pennant". I guess patter traders would expect a continuation downward from this triangle, but let see.
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Comment:
Heads up: we are approaching possible Wave End points
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Comment:
ZRX just keeps on going, especially after a clean retest of resistance
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Looks like we might nearing a top but let see .
the Golden Ratio is my Religion
the Trading View is my Nation
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the Trading View is my Nation
the Moderator Tag is my Flag
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