With such strong support from previous dip, we're obviously in a FIB WEDGE here. The only issue is the spacebtween peaks is running longer then usual and the 3 peak came a little early. I'd expect XVG to crawl up its support line until it's wedge lines are complete, then we're back to the races with 3rd wave finding small resistance at previous high. Good dip to buy. I'm in.
評論
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Got some Korean Police raiding news right at yesterday right as XVG was finding its support, pushing it down further then I'd like. I didn't put the support line on the candels for this graph because I saw a majority of the candel action happening on the line I placed. Also, this means there's some wiggle room for this structure.
評論
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If we don't get a recovery spike in the next couple hours you can know that this structure has lost its momentum
@sigmasix, Why would you do that? there is almost no price difference between 1 and 2?
sigmasix
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@SelimUnver, If there were more than a 5% difference in position I would. With significant volume, it makes a difference.
roaken
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@sigmasix, A fib wedge only has 3 major peaks. I wouldn't expect much price variation between 1 and 2, hence the crawl. Expecting similar action to previous action on the baseline
sigmasix
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@roaken, Hey thanks for that information. I am new to chart analysis but am doing my best to learn quickly. So far the community has been great. I appreciate your response.
Cold911R
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thanks
graet analysis
thumbs up
RickSmash
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This is a great visual of a Fibonacci wedge. Thanks.
FurkanATradingABCD
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Are the targets still the same as before? If not what are the targets now?
roaken
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@ts61fa, sorry i'm not a target charter, I show structures and direction. (more accurately than most target charters I might add). I'm hoping to add numbers to my TA as I'm studying this level of charts atm but am not 100% on it to share atm. I don't want to share anything I'm not personally certain on.