I zoomed in on the the 12hr to better show the Elliot Wave correction, but I’m bullish based on the two recent weekly candles. The weekly has formed an inverted hammer candle followed by an unconfirmed doji candle at the bottom of a trend. This is indicating that a reversal is imminent. The bottom of $1.35 looks like the Wave C local bottom. KDA’s only resistance from here is the $1.80 range. Momentum and RSI are showing bullish signs that could help KDA test the first resistance level. The resistance levels are Fibonacci levels that trace back from the Wave 5 move.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
Kommentera:
Closed my trade for a 84% profit. ✅