Technical Analysis, page-133

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AgHead

106 Posts.

147

06/08/20

12:37

Post #: 46346162
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Originally posted by AgHead: ↑

This is not a prediction, just my opinion of the most probable outcome based on technical analysis, assuming nothing unexpected in the next announcement.

Notes
1. This is a 6 hour chart and not the same time frame as my last 3 hour chart.
2. Elliot wave in one sentence, "5 waves is direction of trend, 3 in correction."
3. Wave 1 up was 5 waves @ 47 degrees, wave 2 was 3 waves @ 40 degrees,
3. Wave 2 usually retraces 61.8% but only retraced 50%. That is a good sign IMO.
4. Wave 3 on Elliot wave impulses are usually steeper than wave 1. To date that is what we have.
5. Wave 3 of impulse waves have gaps and will break the parallel trend lines from points 0, 1 and 2.
6. Vertical guides at Mar 17 and June 25 show the stochastic crossover AFTER the RSI was lower than 31. This suggests a new low.

All the best fellow holders.

Expand

Here is an update to my last 6 hourly chart.

Notes.
* No changes to any of the Elliot wave points, just allowed the price action to fill it in.
* I have added the price lines above 10 cents to show the difference in trading levels. Once an up trend passes 10 cents the price should move quicker than it has below 10 cents
* I'm a little disappointed with the pace of the price rise, but holders of TRY have always had their patience tested.

Hopefully onward and upward from here.

All the best fellow holders.

TRY Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
7 Upvote

2 Great analysis

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