(i) Likely Wave 4 retracement
(ii) 38.2% retracement
(iii) Ascending wedge
(iv) Descending Broadening Wedge upper edge resistance
(v) Bearish MACD, MACDH divergence
Short for wave 5 then go long for the breakout of the DBW!
Setup: Broadening Top (Weekly Chart)
Status: The current down-leg appears to be starting Wave 4 upwards, which should see the DT line tested this coming week.
Indicators: Stochastic bullish cross + Reversal candlestick as entry signal. Stochastics still dropping and converging, --> The short-term down trend isn't over, which confirms the current bounce is just a...
1.) Setup: Wave 4C / Reversion to trend line.
2.) Wave Count Wave 3 appears to have ended at the F(2.618x) extension, 4B is finding support at the F(0.86x) retracement, and the F(0.382x) retracement for Wave 4 will coincide with the DT line.
2.) Bullish MACDH making higher highs, higher lows. MACD gradient is flattening <0. Stochastic bullish cross <20 + Hook...
1.) Broadening Top formation
2.) Bearish MACDH and Stochastic(10,3,3) divergence
3.) Shooting Star candle at upper edge a few days ago
4.) Current Upswing is forming a bear flag, previous upswings in the formation formed Ascending Wedges
5.) Entry Signal: Daily chart reversal candlestick at upper edge