Short
XL - Lets Get Bearish Part Deux 🔨
I can do this on XL without getting too much abuse because apparently no-one cares about XL anymore.
Anyhow I'm looking at a more bearish outcome for XL also as well as other names. If it hit this target I think it will be very deep value.
I've removed EW to an extent just to concentrate on significant pivots, change in momentum.
And the way this wave has acceerated to the downside since late november makes me think this will be a major crash here that wont stop in this area as I suggested before.
I think it may get to the next fib area down to $1.24 and with some overshoot could go sub $1 at which point I think it could be an incredible buy.
It could ofc bounce sooner, and if it does thats fine but I want to see enough sideways drift for it to leave the pitchfork before I touch this falling knife.
There are other names with similar charts that I will be covering in EV.
Not advice.
Anyhow I'm looking at a more bearish outcome for XL also as well as other names. If it hit this target I think it will be very deep value.
I've removed EW to an extent just to concentrate on significant pivots, change in momentum.
And the way this wave has acceerated to the downside since late november makes me think this will be a major crash here that wont stop in this area as I suggested before.
I think it may get to the next fib area down to $1.24 and with some overshoot could go sub $1 at which point I think it could be an incredible buy.
It could ofc bounce sooner, and if it does thats fine but I want to see enough sideways drift for it to leave the pitchfork before I touch this falling knife.
There are other names with similar charts that I will be covering in EV.
Not advice.
Note
Just wow!
Your FA guru can't read a chartðŸ’
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.
Your FA guru can't read a chartðŸ’
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.