YNDX - Ideal support zone to start the launch
YNDX has landed perfectly into the lowest border of my ideal support zone of my wave (iv) projection.
Until 2320 holds, I will expect the price to:
1. Move above the short-term 8/21 EMA and long 50D MA and 10W MA;
2. Form the right side of the cup with buying volume predominating above any selling volume;
3. Any low-cheat/cheat or handle area break-out pivot to emerge, providing the low-risk entry point.
What also provides me with confidence to expect the re-launching of the upward moving trend (although price is bellow the 10w MA) is the absence of any meaningful selling volume. The correction so far is below 20% and looks orderly.
The analysis and the investment thesis is fully wrong bellow 2320 area.
Until 2320 holds, I will expect the price to:
1. Move above the short-term 8/21 EMA and long 50D MA and 10W MA;
2. Form the right side of the cup with buying volume predominating above any selling volume;
3. Any low-cheat/cheat or handle area break-out pivot to emerge, providing the low-risk entry point.
What also provides me with confidence to expect the re-launching of the upward moving trend (although price is bellow the 10w MA) is the absence of any meaningful selling volume. The correction so far is below 20% and looks orderly.
The analysis and the investment thesis is fully wrong bellow 2320 area.
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