$ATOM Outlook

21 ก.พ. 2022

Scenario 1: blue

• We have a bullish outlook, playing the correction (A-E), 4 waves in.
  
  
• Descending triangle.
  
  
• Looking for a long upon bias confirmation.
  
  
• The wave count seems solid for now, however E might take longer than expected to fully develop.
  
  
• Ideal entry: slightly above D.
  
  
• Expectations: full retracement of the triangle.
  
  Note: Breaking the below the red line invalidates this trade.

Scenario 2: (orange)

• Bearish outlook, in which case we're breaking down already.
  

Scenario 3: (pink)

• We are left with one leg up, which will bounce at the diagonal resistance before the final move down.
  

With scenario 2 and 3, the ideal entry would be the red line, that is if it is broken.

Hitting the green line is a given, upon a successful breakdown of the support around the red line.

Trade safe, due diligence is advised!