Midterm perspective for FCPO
FCPO is probably preparing to trending higher in the future but I'm a bit CAUTIOUS because the price hasn't broken the important level yet (strong resistance) which is around 4500. Currently, the pattern which is unfolding is a ZigZag (thought to be). Assuming this assumption holds true, wave C should ends about the same length of wave A, around 5000 - 5200 levels. There're evidences which supports this assumption:
1. There are 5 waves in wave A
2. Fibo retracement level for wave B in a ZigZag is around 0.618 level
3. By EW rules for ZigZag, wave C should have 5 waves.
4. ZigZag price movement is contained within parallel channel - they tend to in most cases.
We're already seeing 5 waves unfolding in wave C but seems relatively short than assumed projection (5000 level). The only possible explanation is that wave (3) in wave C is an extension.
Disclaimer
This is NOT buy/ sell call but for learning purposes.
1. There are 5 waves in wave A
2. Fibo retracement level for wave B in a ZigZag is around 0.618 level
3. By EW rules for ZigZag, wave C should have 5 waves.
4. ZigZag price movement is contained within parallel channel - they tend to in most cases.
We're already seeing 5 waves unfolding in wave C but seems relatively short than assumed projection (5000 level). The only possible explanation is that wave (3) in wave C is an extension.
Disclaimer
This is NOT buy/ sell call but for learning purposes.
הערה
It could also be that the whole 5 wave move in wave C is really just 1.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.