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$amrs long setup

1 590
posting this as per a special request.

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took a peak at AAMRS this evening, and i noticed something extremely bullish forming.

from the march low of 2020, we saw wave's 1-2-3 play out perfectly; hitting the corresponding algo targets wonderfully.

AAMRS has been in a pretty nice area of consolidation up here working on completing wave 4 ever since the local peak of $23.

wave 4's generally take the longest time to play out, and usually appear very choppy by nature.

upon taking a closer look, i noticed a textbook ewt pattern playing out - an abcde.

these generally appear in wave 4's, and wave 5 almost always launches once the correction is completed.

triple bullish divergence on the 4h timeframe, and i have reason to believe that wave E of wave 4 is finally in.

Strict stop loss at $12.
Wave 5 target = $42
ملاحظة
i'll do an update on this tomorrow.

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