Google looks to be forming a long-term head and shoulders on the weekly chart. Will need to continue to monitor whether the trend downward breaks the neckline and continues. Target around the ~750 area if so.
After reevaluating my prior elliott wave thoughts, I'm now wondering whether it's more likely that we are actually completing the 4th macro wave, not the 2nd. Do you think the first set (green / pink) or second set (blues) are more likely..? or maybe some combination of both and I'm mixing up macro/micro waves? Looking for thoughts on this. Thanks!
I found this indicator today for the Accumulation/Distribution line which color codes the ADL according to the difference in the lines moving average within a period(I think it's 9 and 15 day MA but I would have to check again). I wanted to see what the results would be if you traded each time the color coding (i.e. MA differential) swung before crossing the 0...
looks like trx forming a falling wedge on the 4hr. Coupled with the fact that it seems to be holding the larger support(s) and finishing the ABC retracement of the larger 2nd wave, seems promising, at least in the short term.
Just a very rough eyeballing of the charts but it looks like we could actually be finishing up the 2nd wave (retracement) on the daily scale and preparing for a bigger breakout (3rd wave - usually longest of 5 waves), which could coincidentally line up with the June 25th "Independence Day" for main net integration. As always leave your thoughts in the comments!
I'm seeing both a cup and handle and a double top forming on this chart. Obviously, those are bullish and bearish patterns, respectively - so it looks like it could go either way. My guess is that the outcome of the main net launch will decide which way we end up going.
What are your thoughts, everyone? I'd love to hear your take on this, feedback and discussion...