WABI - Catching support, Possible Wave 5 set up

29 Ağu 2019

Taking a look at WABI's 4h chart, we can see it had a great jump a couple days ago. It has since had a healthy retrace beyond the .618 and is now sitting on support for both the price chart and indicators. The 100EMA is also supporting the price. I will be watching for a breakout. If we break the yellow uptrend, the foresee the price falling to the blue support line. There was a previous fractal that is similar to the one we have now that broke down and patterns often repeat, so be aware of the downside risk. Best to buy the breakout.

29 Ağu 2019

Not

Great volume and breakout, but running hot on the 30m. Be careful of a pull back within the pennant.