ATT Inc.: wave analysis
18 May 2018, 09:39
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 31.93 |
| Take Profit | 29.80, 29.00 |
| Stop Loss | 33.57 |
| Key Levels | 29.00, 29.80, 33.57, 36.36 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 33.65 |
| Take Profit | 36.36 |
| Stop Loss | 32.75 |
| Key Levels | 29.00, 29.80, 33.57, 36.36 |
The price can fall.
Within the H4 timeframe, the development of a downward correction of the higher level is presumably continuing as the wave (2) of the higher level. At the moment, apparently, the fifth wave of the lower level v of C of (2) is forming, within which a third wave (iii) of v is formed and a local correction (iv) of v is developing. If the assumption is right, the fall of the pair will continue to the levels of 29.80–29.00. The level of 33.57 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant from the corrections below the level of 33.57 with the targets at 29.80–29.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 33.57 will let the asset grow to the level of 36.36.
Within the H4 timeframe, the development of a downward correction of the higher level is presumably continuing as the wave (2) of the higher level. At the moment, apparently, the fifth wave of the lower level v of C of (2) is forming, within which a third wave (iii) of v is formed and a local correction (iv) of v is developing. If the assumption is right, the fall of the pair will continue to the levels of 29.80–29.00. The level of 33.57 is critical and stop-loss for this scenario.
Main scenario
Short positions are relevant from the corrections below the level of 33.57 with the targets at 29.80–29.00. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 33.57 will let the asset grow to the level of 36.36.
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