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Hi guys!
I got this case where I was expecting a MM a bit higher as I am showing in the attachment, but I got a Parabolic wedge reversing down instead. My analysis was, that I had a bull rally breaking previous' day DT, and I had a big gap down in the price. I have seen many times that the stock always try to close those gaps. I am not sure what I missed here. Could you help me please?
If you're referring to the DT at around the price 38.82, then the measure move should be from the neckline of the DT and not from the low of the climactic selloff. It created a double top and then a wedge using the neckline of the double top and 2 pushes down after that where the BO below the neckline failed twice, so the MM up should be from the high of the DT using the width of the TR or neckline of DT to DT.
The price probably touched the MM target using the climactic selloff while creating a DT.
You might consider reviewing the climaxes videos, MM and DT/DB videos to clear things up a bit more. If you have subscription to the BTC Encyclopedia, you can consult that as well. It was recommended to me by ludopuig.
Hope that helps!
P.S- I am a beginner so that my views accordingly.
Thank you Abir! I think I see it clearer now. Thank you for your help 😀 😀
