IREN: Long-drawn-out structure on the mid-term timeframe as it chops sideways with institutions swapping hands.
Clear wave B redistribution followed by accumulation in the current leg, with buyers stepping in to take control around the wave C terminal zone—right where the anchored VWAP from the June 2023 cycle low sits.
Currently stuck in a pinch between the AVWAP off the prior swing high (short-term downtrend) and the wave C bounce. Volume reaction is critical here to confirm the shift from seller to buyer control. We also have the 61.8 retrace of this prior sub-wave 1 converging with the volume POC, 200 EMA, and 50 EMA—making this a stacked inflection zone for a high-conviction breakout.
Clear wave B redistribution followed by accumulation in the current leg, with buyers stepping in to take control around the wave C terminal zone—right where the anchored VWAP from the June 2023 cycle low sits.
Currently stuck in a pinch between the AVWAP off the prior swing high (short-term downtrend) and the wave C bounce. Volume reaction is critical here to confirm the shift from seller to buyer control. We also have the 61.8 retrace of this prior sub-wave 1 converging with the volume POC, 200 EMA, and 50 EMA—making this a stacked inflection zone for a high-conviction breakout.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.