Goodfella - agree with your views of EW rules and supposition that a doubling in Z1P's price would be unlikely any time soon (I keep expecting the BNPL sector to implode but it just goes on defying gravity - however report just published by ASIC suggests problems on the horizon). On a purely academic point you say you count the entire chart as 3 wave moves - not 5. While I know that EW is very subjective I can see a text book cycle in the chart from start to March 2020 - but is that and entire cycle or just a drawn out Wave 1 of a larger cycle? March low to August high seems too short a time for me to be Waves 1 to 5 (while acknowledging that isn't impossible). I saw a possible price channel forming (green on chart) and perhaps that is where you see the 3 wave structure. Then I saw a larger channel (beige on chart) which could have 3 wave structure as well - and suggesting price would fall back towards $5 (but to do so it would need to break a very strong level of support around $5.70)
Your comments?
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Goodfella - agree with your views of EW rules and supposition...
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13 | 169174 | 1.675 |
16 | 73179 | 1.670 |
20 | 226501 | 1.665 |
15 | 274012 | 1.660 |
Price($) | Vol. | No. |
---|---|---|
1.685 | 36244 | 12 |
1.690 | 110290 | 16 |
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