XCAD went for pain mode (double correction WXY). It ruined all bullish divergence setups on it's way down. All it remains now is fact that we are oversold and sitting at RSI support line which caused in the past price to at least bounce up. XCAD developed same pattern as AIOZ which in AIOZ case resulted in reversal. I am expecting similar move from XCAD where 1st impulse should push above X-wave level, consolidate a bit and then go for test of pivot at ATH range. From there again big correction.
Note
Still ranging at the bottom, plan has not changed. We are in endphase of correction and should soon get a strong bounce up leading back to overbought conditions.
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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.