ZETA
Ok i've got a silly short here but it has good bang for buck and tight RR ๐ .
The point of this is twofold:
1) Indexes are at a potential ratio based inflection point (though not at all determined)
2) ZETA is also in a similar ratio based inflection point; though the chart is very different.
ZETA is up 19% today on TradingView "Gap Gainers" after an earnings pump.
And that has left an enormous gap.
This may prove to be an Exhaustion Gap as part of a blow off top.
From July 2022 we have a clear 3 wave structure.
And 3 waves often lead to a reversal.
Current price is close to the 0.786 overshoot ratio of the 1:0.618 Golden Window.
If it tops here then this is a weak extension ratio; because the third wave is shorter than the first.
And it is also in the reverse extension 1.618 Golden Window taken from wave 2 of 3 - the connective wave.
So this is a higher probability area for a pivot for the chart to maintain ratio balance.
Both overshoot ratios; the 0.786 and 1.786 are only just above current price and so this allows me to enter a short position with invalidation only a little way above.
Therefore I can reduce risk and increase margin.
If it does top out in this area then it can become a Shakeout Reversal Pattern ("S") above ATH resistance.
This is an area of higher liquidity and so is more likely to print a major pivot.
A weak extension ratio tends to lead to a minimum 0.618 retracement...
So this could go really deep - perhaps down to $7.
This may depend on what happens next with indexes, but if they also print a pivot into a bearish wave, then this is primed to go tumbling down and down ๐.
Not advice
Ok i've got a silly short here but it has good bang for buck and tight RR ๐ .
The point of this is twofold:
1) Indexes are at a potential ratio based inflection point (though not at all determined)
2) ZETA is also in a similar ratio based inflection point; though the chart is very different.
ZETA is up 19% today on TradingView "Gap Gainers" after an earnings pump.
And that has left an enormous gap.
This may prove to be an Exhaustion Gap as part of a blow off top.
From July 2022 we have a clear 3 wave structure.
And 3 waves often lead to a reversal.
Current price is close to the 0.786 overshoot ratio of the 1:0.618 Golden Window.
If it tops here then this is a weak extension ratio; because the third wave is shorter than the first.
And it is also in the reverse extension 1.618 Golden Window taken from wave 2 of 3 - the connective wave.
So this is a higher probability area for a pivot for the chart to maintain ratio balance.
Both overshoot ratios; the 0.786 and 1.786 are only just above current price and so this allows me to enter a short position with invalidation only a little way above.
Therefore I can reduce risk and increase margin.
If it does top out in this area then it can become a Shakeout Reversal Pattern ("S") above ATH resistance.
This is an area of higher liquidity and so is more likely to print a major pivot.
A weak extension ratio tends to lead to a minimum 0.618 retracement...
So this could go really deep - perhaps down to $7.
This may depend on what happens next with indexes, but if they also print a pivot into a bearish wave, then this is primed to go tumbling down and down ๐.
Not advice
Part 1 video uploaded 9 June.
Is the bond market / FED pivot going to rock stocks and crypto ๐?
Crypto focus video coming soon๐ผ.
Telegram Group: $50 per month ๐๐ป.
Contact: t.me/dRends35
Is the bond market / FED pivot going to rock stocks and crypto ๐?
Crypto focus video coming soon๐ผ.
Telegram Group: $50 per month ๐๐ป.
Contact: t.me/dRends35