Panjang
AMRX - WXY pattern ongoing ? possible swing for longs

Interesting patterns on that one:
ABCDE triangle with good fibo proportions: BC=61,8% of A, DE=61,8% of BC
---> usually a triangle is a 4th wave or a B wave
---> I assume here it is a B wave since I don't see the other possibility with the 4th wave
Therefore the high at 7,45 could be a C
---> good porportions with A=C
---> but looks more like corrective (ABC) and not impulsive
But let's assume this whole pattern is (W) then
a wave (X) is following as an ABC correction with good fibos again:
A=C
(X)=32,8% of (W)
let's dream and assume this may be correct then an impulse A is coming followed by a B and a C to finally close the WXY pattern
--> would mean short term 6,85USD (1,618 fibo level of the ongoing impulse)
--> middle term about 9 so (Y)=(W) ?
Invalidation under the wave 2 (4,7USD)
Risk reward Ratio=2,3
entry = 6USD (5,9 right now)
target = 9USD
stop = 4,7USD
ABCDE triangle with good fibo proportions: BC=61,8% of A, DE=61,8% of BC
---> usually a triangle is a 4th wave or a B wave
---> I assume here it is a B wave since I don't see the other possibility with the 4th wave
Therefore the high at 7,45 could be a C
---> good porportions with A=C
---> but looks more like corrective (ABC) and not impulsive
But let's assume this whole pattern is (W) then
a wave (X) is following as an ABC correction with good fibos again:
A=C
(X)=32,8% of (W)
let's dream and assume this may be correct then an impulse A is coming followed by a B and a C to finally close the WXY pattern
--> would mean short term 6,85USD (1,618 fibo level of the ongoing impulse)
--> middle term about 9 so (Y)=(W) ?
Invalidation under the wave 2 (4,7USD)
Risk reward Ratio=2,3
entry = 6USD (5,9 right now)
target = 9USD
stop = 4,7USD
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.