Not too much to add here. The break out occured from the Wyckoff box and is currently holding.
Looking back at the price action WOO likes to make big moves and then give most of it back only to push up higher.. that has been the trend thus far. I have no reason other than BTC pulling back hard that this pattern will not continue.
My price targets are still in...
This pattern and chart look very promising to me. As I work this chart idea WOO is breaking out on the 1day chart. If this can close and hold I am confident in this analysis.
WOO is riding on top of all the SMA's and that is good.
The up target will be in the golden pocket so that is great news. Algorithms and traders like that psychological area.
If it fails...
WOO Network is overbought on the 1D technical outlook (RSI = 76.798, MACD = 0.020, ADX = 44.031) as it is almost at the top of the 17 month Channel Up. At least for the short term, this is an excellent level to short and target the HL trendline (TP = 0.25000). The previous two top rejections have hit at lest the S1 level.
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From Elliot's rules, we find that the price made three historical downward waves, then corrected in three other waves, and it is expected to decline in five large waves in order to end the historical decline of the currency
This is an easy one and a very strong chart at the same time.
Last year WOOUSD produced a double bottom, June & November 2022 hit the same low at 0.10.
In 2023 we have a similar pattern with the last two corrections, March & June both produced a Doji to close the session.
This Doji is a reversal signal.
Now that this week is full green, confirmation is in for...
WOOUSD is trading inside a Channel Up since the November 22nd 2022 bottom.
The price is right now under the MA50 (1d), which technically indicates a bearish momentum.
Trading Plan:
1. Buy if the price closes a (1d) candle over the MA50 (1d).
2. Buy if it hits the MA200 (1d) first near the bottom of the Channel Up.
Targets:
1. and 2. The top of the Channel Up at...
WOO Network (WOOUSD) is on a 4 straight day rise since holding the 1D MA50 (blue trend-line), maintaining the bullish trend within the long-term Channel Up pattern. The 1D MA200 (orange trend-line) is now exactly on the Channel's bottom, having supported the price on March 10, kickstarting the current bullish leg we're in.
We are short-term bullish targeting...
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Dear Friends
The Dow theory HH and HL indicate continuing the bullish trend and the harmonic pattern AB=CD indicates starting the reversal point towards continuing the bearish trend.
What do say guys where will it move??
