DEGO has seen a wave (1) come in very quickly upon listing, followed by wave (2). We think that (2) has now completed because of the smaller degree move up labeled as 1, which is likely to be followed by an enormous move up. This is because wave (3) will tend to target the 161.8% extension of wave (1), as shown on the chart for the take profit level.
This trade will take entry either at 15.50 (the 61.8% retracement of wave 1), or when price is able to break above the Point Of Control shown by the red line at 17.8 again.
This trade will take entry either at 15.50 (the 61.8% retracement of wave 1), or when price is able to break above the Point Of Control shown by the red line at 17.8 again.
Note
Upon examining the subwaves, we chose to buy now. This is because price appears to have completed a flat correction.Note
This candle is VERY bullish! I have a feeling this is the last chance to buy before this really takes off!Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.