Primary Pattern: A contracting triangle within a larger corrective structure, likely wave 4.
Wave Count: A diagonal 5-wave impulse (i–v), followed by a WXY (X2) Z complex correction, suggesting wave 4 is still unfolding, possibly nearing completion.
Current Price: $0.83 with volume and SMA ribbon golden crosses showing bullish signal and near completion of accumulation phase.
Fibonacci Extension:
Targeting diagonal wave 5 at 261.8% extension from the base of wave 1 aligns with the projected target of $1.82, which matches the height of the triangle target. This also coincides with a +180% move from the possible upcoming wave Z or wave 2 —technically ambitious, but plausible if wave 5 kicks off with momentum.
Wave 4 Triangle Context:
The WXY(X2)Z structure implies a complex sideways correction which is typical of wave 4 behavior 1.6x - 2x wave 2 time extension
Key Support:
Entry: If X or 1 is nearing completion, and triangle support holds at key support MA20W Fibonacci 61.8%, the breakout into wave 5 could be explosive—especially with diagonal structure suggesting a leading diagonal pattern.
SL: Triangle Support is the last liquidity / smart money entry
Always trade with affordable risk and respect your stoploss!
Wave Count: A diagonal 5-wave impulse (i–v), followed by a WXY (X2) Z complex correction, suggesting wave 4 is still unfolding, possibly nearing completion.
Current Price: $0.83 with volume and SMA ribbon golden crosses showing bullish signal and near completion of accumulation phase.
Fibonacci Extension:
Targeting diagonal wave 5 at 261.8% extension from the base of wave 1 aligns with the projected target of $1.82, which matches the height of the triangle target. This also coincides with a +180% move from the possible upcoming wave Z or wave 2 —technically ambitious, but plausible if wave 5 kicks off with momentum.
Wave 4 Triangle Context:
The WXY(X2)Z structure implies a complex sideways correction which is typical of wave 4 behavior 1.6x - 2x wave 2 time extension
Key Support:
Entry: If X or 1 is nearing completion, and triangle support holds at key support MA20W Fibonacci 61.8%, the breakout into wave 5 could be explosive—especially with diagonal structure suggesting a leading diagonal pattern.
SL: Triangle Support is the last liquidity / smart money entry
Always trade with affordable risk and respect your stoploss!
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.