VERGE(XVG) Elliot Waves

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Verge has had quite a run up over the past year, it has successfully completed waves 1-4 of a 12345 Impulse wave. We have just started wave 5. Wave 5 can be predicted by drawing a trend line from the end of wave 2 to the end of wave 4 and projecting a parallel line of the trendline off of waves 1 and 3. Wave 5 WILL end on of those lines before an ABC correction ensues. Generally, if wave 3 went past its Fibonacci targets, and was extended and run away type of wave, wave 5 will be shorter and end on the parallel trend off of wave 1. So wave 5 should end at $0.48 USD, by May 14. Also there is a beautiful Inverse Head and Shoulders forming as well.

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تعليق

It is possible that wave 5 could be longer and end on the parallel trend off of wave 3. If so, wave 5 will be an extended 12345 Impulse subwave