A Sigh of relief maybe for vechain with this small rally in the market. I believe this movement down from swing high might be a deep wave B. But i have to agree to the fact that structure wise it looks a bit weird. Taking this wave down as a descending wedge , its clearly visible that this breakout had increased volume. Will have to wait and watch if it gives a successful throwback to this wedge.
My initial potential targets for this wedge play are indicated by horizontal support/resistance lines . The one at the bottom is the last line of defense for this pattern and the related count.
This is not a financial advice and just for educational purpose. trade safely and carefully. Alts might be an exponentially risk play atm.
Yorum
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My detailed count for this wedge breakout
Yorum
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that pink line is where 0.618 for this whole WXY lands
What is the next step please . Will it hit the next target 157 sat or will dump down . Update please .
XtinCt
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@saadi_75, Hey man! Although its not my place to say but playing that potential throwback on the wedge , where its sitting on that blue resistance/support line could give nice returns .