Tag: $TWTR
Unlock with PatreonA Deep Dive Into $TWTR
First, let’s take a look at the long-term picture.
From its low in 2016, it has made 3 distinct highs, but they have overlapped. This is a good candidate for a leading, expanding diagonal (red structure), an impulse wave to the upside that accommodates overlapping waves. At the high in 2021, it formed an ascending triangle that can only either be a 4th wave or a triangle “B-wave.” As it obviously failed, it’s clearly a “B-Wave.” The decline from the highs has therefore taken the form of 3-waves and stopped at support, a major, long-term trend line (green).
And so, from 2016, it is a good candidate for a 1-2 of cycle (yellow) degree:
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Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few months), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, Tier 1 members ($20/mo.) get access to the articles, Tier 2 members ($35/mo.) get access to those, plus counts on about 20 other instruments, plus Discord server access.
$TWTR Could See Substantial Upside
Two observations on $TWTR:
- The correction in May came to the 50% retracement area of the advance from the COVID lows. And the second advance has retraced 61.8% of its own smaller advance (these are the two orange boxes below the price action). That fits the basic criteria for a 1-2-1-2.
- It is also forming an ascending triangle, which, in this instance, is also effectively an inverse.
Now, we need to clear the trend line, but if we can: target is the orange box.
[UPDATE]: Since the price action has broken down twice now from this structure, I am beginning to doubt it. I am going to cancel this call while we are still close to price we were at when I made the original call. I will need to monitor the price action from here prior to making another call.
Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few months), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, Tier 1 members ($20/mo.) get access to the articles, Tier 2 members ($35/mo.) get access to those, plus counts on about 20 other instruments, plus Discord server access.