You apply a much bigger time window than mine. I counted the EW...

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mcexplorer

15,730 Posts.

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11/09/19

19:26

Post #: 40387510
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Originally posted by Jamieevie: ↑

Buying climax yesterday with stopping volume and an automatic reaction today. Support today at a fib level.
Obviously holders would want it to hold either that level or the PSY around $1.15 if it goes below that and then put in range bound trading to build a case for re-accumulation. Way higher volumes traded today though compared to after the buying climax in early May which marked the start of the re accumulation then.

Higher volume means imo would need to be careful it doesn't do an SPT. The advantage it has over something like SPT is that ISX built a proper accumulation base and re accumulation base while SPT was nothing but a FOMO pump and dump so it could be less likely to do that and may do something more like PNV or something. The re accumulation base was pretty short though. PNV's took over a year to complete while this was all of 3 months.

mcexplorer, imo if you're applying EWC then the move has already completed the cycle as per below, with the move today being the start of an A corrective wave, not the start of a wave 4.

Not the cleanest EWC since it forms a corrective wave structure in the middle of wave 3 and wave 5 is way more extended than what a wave 5 usually goes (this is probably due to the FOMO that accompanied it). Wave 1 and 2 are fairly obvious though - wave 2 at its low only retraces 38.2% of the wave 1. Wave 2 is also a long and flat corrective while wave 4 is short and sharp composed of an A-B-C fractal (meeting the guideline of alternation within an impulse). Also the wave structure holds very close to the Fibonacci levels. Eg how the corrective wave pattern occurs between the 1.618 and 1.382 extensions of wave 1.

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You apply a much bigger time window than mine. I counted the EW from 60 cents within most recent two months. We still have lots of news to come which should bring Wave 5 that could lead us above $1.875.

ISX Price at posting: $1.41 Sentiment: Buy Disclosure: Held
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You apply a much bigger time window than mine. I counted the EW...

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