BLOZF Short

BLOZF is currently playing out a triple three retracement (not pictured) - the yellow ABC correction is the final correction in the pattern, which looks as though it will complete a running flat (3-3-5). Wave B retraced already to roughly 90%. It is now on its 5 wave impulse down to complete the C Wave of the ABC correction. Within that 5 wave impulse, a triangle has formed on Wave 4. I expect the triangle to end between roughly $0.50 and $0.53, before completing it's 5th wave down. The first target for the end of Wave C is $0.43, which would be a 0.618 fib extension of Wave A to Wave B. The second target is $0.28, which would be a 1.236 fib extension of Wave 1 to 2 (within 5 wave impulse down). The third target is $0.20, which would be a 1 to 1 fib extension of Wave A to Wave B.

After completing this final ABC correction, and completing the longer triple three retracement, BLOZF is to the moon (targets TBD).

Stay tuned. Happy trading.