It's quite the busy chart but it's all about confluences. And right now I'm seeing strong confluence, which is a vote of confidence for me.
If this is wave 1 of the current cycle and with a severe correction to .786 Fib, Algo won't correct much at wave 4. Meaning it's up and only up from now on till the fifth wave sometime in 2025.
This NFA!!
- Bullish divergence with RSI signalling 5th wave completition (corrective)
- Falling wedge boundaries being respected
- RSI climbing slowly but surely
- Bounce off .786 fib retracement and making a HL (need to see HH next)
- RSI is now bullish on the 2D TF and up
If this is wave 1 of the current cycle and with a severe correction to .786 Fib, Algo won't correct much at wave 4. Meaning it's up and only up from now on till the fifth wave sometime in 2025.
This NFA!!
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This is I'm watching in Algo over the next few weeks. Ideally, a retest of the wedge in the form of a candlestick that gets clearly rejected to the upside and then a close higher than last week's bullish candle. That would seal it for me!
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Algo is running HOT! I'd say extremely hot. But it won't stop until it touches the 200MA. After which the fan out of the EMA will be very clear
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TV's acting up. Reposting the chart...Заметка
Third time's a charm!
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About time
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