Replies to post #4703 on 123Tom's TA study group

[123tom]

...That would be the Wave 3 rally....target 6.40 area

and from there a shallow retrace holds around 6.00-6.20 area and rallies to the target at 8 dollars.





key targets from here at 4.30....4.30 will become a critical support zone in a rally pattern. From here, a bounce targets 4.80 area, Pulls back to test 4.30 critical support. Holding and making another strong run, rallies again to 5 dollars and thru it to target 5.75 area, This would be a subwave 3 of 5 of wave 3. subwave 4 slides shallow to hold at 5.40 area and then another 1 dollar rally to 6.40 area completes the Wave 3 . Wave 4 slides down toward 6.00-6.20 and holds , bouncing into Wave 5 rally, another 1.80 that targets the 8 dollar zone.

IF we don't see this kind of strong rally in this cycle, supposedly a good news cycle, then anything else, like struggling around 5 dollars or struggling around 4.50, is not any kind of Wave 3 rally. it would be a bearish /neutral capping control that suppresses a rally, to keep pric down below the 200ma at 5 dollars. keeps price suppressed around the shoulder zone and critical support at 4.30.