WTC has so many bearish signals right now I don't even know where to begin.
Then there's the elliot wave analysis, which pretty clearly shows a retrace must be imminent.
Even if you dont believe ANY of that, simple trendline analysis shows that a return to the lower trendline will occur at some point.
If you're buying this... stop.
- Volume divergence. WTC is rising on decreasing volume.
- RSI divergence. WTC rising despite weakening RSI.
- MACD divergence. WTC rising despite weakening RSI.
Then there's the elliot wave analysis, which pretty clearly shows a retrace must be imminent.
Even if you dont believe ANY of that, simple trendline analysis shows that a return to the lower trendline will occur at some point.
If you're buying this... stop.
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Whoops, that should say ABC retrace, not 4 wave.. obviously :)
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Well that certainly didn't take as long as I expected... I thought it might float sideways or continue up for abit before actually collapsing.
Either way, hope everyone got out in time!
Either way, hope everyone got out in time!
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Even on the big news that WTC had today it still didn't generate much volume and didn't even match its previous high (unless something changes). Just another bear sign.
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Continuing like clockwork. Traders should look to rebuy WTC around the 25K mark for the next leg up.
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Pattern complete!
Now you can look to go long again, especially since a somewhat inverted H&S is forming. WTC is worth keeping an eye on for sure
Now you can look to go long again, especially since a somewhat inverted H&S is forming. WTC is worth keeping an eye on for sure