QASH has reached its last high at 0,945USD - the top of wave 5. This has also been the upper limit of the ascending trend channel. It turned down - on the way to the lower level of the channel where I expect the point of the corrective wave A. At this level we find a fib retracement 78.6% (0,84$).
If I´m right with this projection the price should climb and forming the motive wave B. All the time QASH shall stay within the channel. The top of B shall be lower than 0.95$! - Otherwise this projection is wrong.
The following waves - I think of an abcde- correction - could lead QASH to a price around 0.68$ or so. In "supercycle" this could be the end of wave II.
We´ll see.
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Corrective wave A has been longer than I´ve expected and broke the trend channel to bottom. I adjusted the next waves and actually I think we could see a new target zone (for reinvestments) at 0.62$
@Luettis Thank you for chart. Right in the spot. Can you continue with updates?
commondenom
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so..... although the price might not have followed your waves exactly it turns out you were pretty much bang on the money with 62c which for me is a good thing because i expected a drop too and your chart helped me stay confident that it was coming and now i'm about to make a fairly substantial (for me) QASH buy.....so thanks for that....
would you care to revisit this chart and maybe do an update?
@commondenom, visit my chart below - in the closer picture I couldn´t find much trend lines, neither a EW-wave. But in the big picture it seems to be much clearer. Perhaps we´re in a supercycle (wave 2) and this could find its lowest in the mentioned zone or a little bit lower (swing trend line, orange). On this level (0.55 - 0.60$) QASH should find the bottom. If QASH breaks this zone to the bottom and falls back even on the level where the old EW ended (e) then we´ve not entered a new motive direction.
So, if QASH turns and rises from this level, then we´ve got good chances to have entered wave 3 (motive) which should lead higher than 0.95 - perhaps to 1.25$ (fib extension 1.618% / also fib retracement from corrective fib = 0.618%).
This is no trading advice!
commondenom
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@Luettis, thanks so much for sharing your thoughts.... i shared the original chart on the Qash telegram channel and called for 62c but obviously didn't get a very warm reception as everyone was hoping for a continuation of the uptrend, but you were right in the end and so i'll be sure to share the new chart too...
thanks again!!
commondenom
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@Luettis, for the record i find that qash TA only seems to work well on the daily scale for some reason....might be because it's such a new token or something but yeah, dailies work well
Thank you for chart. Right in the spot. Can you continue with updates?