Hey guys,

I'm back with an update on Atom.  You can check out my first post, Atom about to breakout for a chart history.  Here's a recent meetup - The Cosmos community - video to check out as well.   

Know Cosmos Better

Atom Going Higher or Correcting to the downside?

The 5th wave in my Elliott Wave count below has hit the top of the channel at $4.50.  The next move will be an ABC correction to the downside, but how low will the (c) go?  The Fib retracements show .382 (3.185), .5 at (2.776), and .618 at (2.372).  The typical area for a (c) waves to retrace is the previous 3rd to 4th wave.  We can see the (a) wave has reached near the .382, so we expect a lower move for the (c) wave.  Monitoring the RSI below 40 will help confirm the bottom of the ABC correction.  

Happy Trading - 3rd Dog

Note:

I’m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature and are therefore are unqualified to give investment recommendations.  Always do your own research and consult with a licensed investment professional before investing.  This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.

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