WAMU EW chart analysis Oct 21st 3 minutes ago
this is my interpratation of what I think is happening. I posted a while back and suggested the 0.193 was the bottom of an ABC correction I guess based on time frame and there were much of a swing pt high to register a B top. So it has been revised and im more comfortable with this.
I believe we are making the final low of a C in an ABC correction, once complete it should make a strong move back above 0.225, im confident this area once broken out will be retested so you have plenty of time to get back in. we are testing the 50day MA as well as the 61.8% of of entire move from 0 is at 0.168, of course if you take the 0.022 as bottom then the 61.8% fibo is actually at 0.18, maybe thats why we close above this?
either way I fully expect we are bottoming out, stoch is way oversold and is all set up to make a good rally from here.
also per EW theories go, once the price completes a 5 wave pattern. it usually traces out the range of a prior wave iii/iv, and we are in that range under 0.208
all requirement is fulfilled and this should be hit boys. if there is more selling today or tomorrow then I would expect we will get a day similar to when price was at 0.07, it will push all the way back you just dont get a year long up move with a sudden drop off a cliff without a strong sentiment support or base simply because over the months only more people became aware of the situation. but the mms will do what ever it takes to push this as low as possible. that is why you see price get pushed to the edge and to the lowest it can possibly go but trend still remains up.
notice the 200MA at 0.099 and the previous sub wave i top at just above 0.105, this will be the make or break. only if they take this out will the year long chart be completely damaged. I expect weeks or month from now we will be trading above 0.44 cents.
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An der Börse sind 2 mal 2 niemals 4, sondern 5 minus 1.
Man muß nur die Nerven haben, das minus 1 auszuhalten.