NeoWave Structure: Flat–X–Triangle Combination - break out

4 giorni fa

This chart illustrates a possible NeoWave-style corrective combination: a Flat–X–Triangle structure, likely completed and followed by a breakout.
W Wave: A well-structured Flat correction (labeled A–B–C) with a clean internal 5-wave impulse in C. Balanced time and volume across subcomponents suggest structural completion.
X Wave: A simple, proportionally shallow X connector, in line with NeoWave time and price minimums.
Y Wave: A textbook contracting triangle (labeled a–b–c–d–e), with near-perfect Fibonacci relationships between legs:
• Wave b retraces approximately 61.8% of wave a
• Wave d retraces approximately 78.6% of wave c
• Time symmetry is preserved
• Volume compresses into the apex, a classic triangle behavior
Breakout Observed:
• Price has moved above triangle resistance
• Volume increased at breakout
• MACD shows positive crossover and rising momentum
Interpretation:
This may mark the end of a prolonged corrective structure and the beginning of a new impulsive sequence. Triangle projection targets suggest the $77–80 area as a minimum, with higher Fibonacci extensions possible (e.g., 1.618 or 2.618 of prior moves) if this evolves into a 3rd wave.
Technical Approach:
This analysis follows NeoWave principles (Glenn Neely), emphasizing structural clarity, wave proportion, time-price balance, and breakout behavior.

4 giorni fa

Nota

“Constructive feedback and NeoWave discussions are welcome.”