LCID starting to look like its in a cycle wave zig zag that will eventually get back to $11 area.
Having completed a 1.618 intermediate C wave to top out the primary B, LCID printed a very bearish candle.
Looking at the downward fib extension it is currently at the 1:1 and the highlighted gravestone area shows the area has been tested and now price is slipping to the downside.
The 1.618 will take price back into the trading range but I think the very large bearish candle signals that this will be a 5 wave capitulation down to $11.
Also looking at RSI it is giving its lowest reading on the 2W andlooking bearish now falling into the lower quadrant. It will go oversold I think.
See you at $11.
Not advice.
Having completed a 1.618 intermediate C wave to top out the primary B, LCID printed a very bearish candle.
Looking at the downward fib extension it is currently at the 1:1 and the highlighted gravestone area shows the area has been tested and now price is slipping to the downside.
The 1.618 will take price back into the trading range but I think the very large bearish candle signals that this will be a 5 wave capitulation down to $11.
Also looking at RSI it is giving its lowest reading on the 2W andlooking bearish now falling into the lower quadrant. It will go oversold I think.
See you at $11.
Not advice.
Note
En route.Note
This idea worked well.
Your FA guru can't read a chart💭
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.