XOZ shot up with two "Parabolic" waves and is now retracing
Looking for supports at confluences of Fibs from two series.
If this was NOT a pump-n-dump, then it needs to bounce soon.
50/51 cents is the obvious first support, round number plus fibs there.
45/46 and 42.43 are next supports but neither will be as strong at 50
38/39 should be very strong support, and is " Bulls Last Stand".
My previous analysis, a heads up of the Parabolic waves:
Looking for supports at confluences of Fibs from two series.
If this was NOT a pump-n-dump, then it needs to bounce soon.
50/51 cents is the obvious first support, round number plus fibs there.
45/46 and 42.43 are next supports but neither will be as strong at 50
38/39 should be very strong support, and is " Bulls Last Stand".
My previous analysis, a heads up of the Parabolic waves:
Note
Got the Bounce but .....So this bounced exactly where it was "supposed" to
.
Fib of the Bounce
Shows lack of follow through, unless bulls can start working back up this fib.
.
Fib of pullback after bounce
.
Zoom back OUT to original tf with the new fibs
If bulls lose that zone, it becomes more likely to hit lower lows.
If bulls hold that zone, it would allow a rise that could catch eyeballs and make it into a "wave 3".
.
In SUMMARY:
- it bounced exactly where it should have, so a good sign for sure.
- but the bounce did not see any follow through and retraced.
- now we have 55/56 cents as the make-or-break level to watch.
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Note
Followup to last pic above ^^Got a decent little bounce from our newly minted Blue zone in last update
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Note
Next Battlezone already definedZoomed IN (1min) and Putting a fib (blue bands) on the last leg up
If/when it gets there, it will be THE battle to determine whether to "more pump" or "start crash" next.
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the Golden Ratio is my Religion
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the Trading View is my Nation
the Moderator Tag is my Flag
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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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.