So this is my anticipated chart... the hope and dream LOL.
First of all, screw the gap at 8c! LOL. There is also gap at 17c and still on to complete at 22c. Which will close first???
As I have said before, I am calling that run from 5/6c to 21c as wave 1. Why? This is the first 5 wave pattern above the long term 200MA. @W3hunter some of your previous education / advice on these waves was to look for waves above the 200MA because they tend to be more reliable. Thoughts? Its also been a solid pattern so far, and W1s tend to retrace most of there gains, with all hope lost and blood on the streets.
The down trend 161.8% extension was 9.76c. I said previously this is where shorts would start to close out.... thats exactly what I do with CFD trading and its remarkable how NASDAQ futures obeys this stuff.... almost like its all computer algos driven.
So calling the bottom at 8.5c now. Could be wrong. But from here want so see the 10c broken and solid support or volume put in. Every chance it could turn down again though.... who knows.
From the 10c mark we should then see the 62% major fib at 15c tested. This couples with the 262% minor extension. 15c/15.5c will likely be resistance.
From 15c, generally big news comes out to kick off W3 in full motion.
Again, could be wrong and this could be a dud.
@W3hunter feel free to tear this apart if you see BS. Most is stuff I have learnt off you and put into practice mainly on CFD trading 5 min charts. So always open to more insights.
GLTA!
2021 Charts, page-1405
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