IEV Europe started wave 3 of 3; measured triangle move around 85
IEV retraced half of the distance between 50 & 35. (Resistance & support)
It made a very long hammer in this monthly chart, bounced off cloud, ma100 & & then
crossed over ma50 to stop at ma20 which is also the mid of upchannel. (All in a single candle)
It also came down & retested the BIG TRIANGLE from 2007.
A safer entry is to wait for ma20 cross & hold 50 for a few days, 50 is a very impt pivot line…3x top in the past.
Breakout from 50 will send IEV higher to retest recent highs & the 2007 top.
If March indeed ends with a long hammer, wave 2 of 3 should have bottomed & wave 3 of 3 will begin.
A measured move of the big triangle projects wave 3 ending at around 85, also an impt FIBO level.
Although seasonality says Mar-April are bullish, come May market may encounter big whipsaws. (The ups & downs within wave 3). As the saying goes:”Sell in May & go away”.
This is just a guide for my followers, not trading advice
If you like my analysis, pls hit like & follow, telling me to do more. Thank you.
It made a very long hammer in this monthly chart, bounced off cloud, ma100 & & then
crossed over ma50 to stop at ma20 which is also the mid of upchannel. (All in a single candle)
It also came down & retested the BIG TRIANGLE from 2007.
A safer entry is to wait for ma20 cross & hold 50 for a few days, 50 is a very impt pivot line…3x top in the past.
Breakout from 50 will send IEV higher to retest recent highs & the 2007 top.
If March indeed ends with a long hammer, wave 2 of 3 should have bottomed & wave 3 of 3 will begin.
A measured move of the big triangle projects wave 3 ending at around 85, also an impt FIBO level.
Although seasonality says Mar-April are bullish, come May market may encounter big whipsaws. (The ups & downs within wave 3). As the saying goes:”Sell in May & go away”.
This is just a guide for my followers, not trading advice
If you like my analysis, pls hit like & follow, telling me to do more. Thank you.
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.