Foreign Extreme volatility here so I thought it Would justify another update Um an extreme volatility really hits it Which is which is which is interesting Given that there hasn't really been a Lot happening on the on other cryptos so We are currently here looking at Generally from from that low from the 14th of November obviously we're looking At a five wave move to the upside we're Currently looking that would be a wave One we're currently looking at this wave Two And for the Wave 2 we had here A Wider Support area between let's say roughly Well 19.9 Cent and 22.6 So something like that yeah between the 78.6 FIB level and the 50 Dropping below 19.9 would make the General bullish outlook here for Chili's Unlikely or it would challenge it Definitely it would challenge it it Would definitely increase the Probabilities for a breakout to the Downside Um however looking now at this wave too You can see that earlier today or was That yesterday no it was today we Actually reached here this support area That we talked about yesterday so that Worked out nicely we reacted to it Already but not yet we did not yet see a Substantial move to the upside
Um from there we haven't Let me see we um the original idea was That we moved up here in a wave one Already so that we completed this where Is it that we completed the Wave 2 here Possibly already given that we could Count five waves down and given that we Reacted already Um in quite a good way to that Um To the support box and we moved up and Come came down here into the support box Or reacted to it moved out but never Broke above the wave one so I put here On the chart if this lever breaks we're Already in wave three to the upside that Would be the the third wave here in Orange no in yellow here there it is Yeah Um or we're not there yet yeah we came Down it's a lot of volatility in this Market today so my view actually at the Moment because we dropped below this Smaller support back box Because we drop below it it could very Well be that this wave Um 2 here is still ongoing it's not very Clear yet because we have not yet broken Below this previous swing low but I Think we're going to do it the way this Is coming down at the moment so An extremely volatility really so if Either we move up straight away from Here and then we have an ABC in wave 2.
Basically after this Zoom out I know it's a little volatility I mentioned the five minute chart which Is ridiculous so let's go to the one Hour Um So after this first impulse this sort of Trend to the upside this five wave move Coming down then in this this fulfills The wave one yeah coming down in wave Two the idea was has the Wave 3 already Started or not it looked like it Um but we've basically come down a bit Too much now Um it's still possible but we would need To move up then straight away from here But if we now go below 22 cents then my View would be that the Wave 2 So the wave one done here that this Wave 2 is still ongoing and that this first Support box is still relevant Um Here yeah So that The alternative and I go to the maybe The 15-minute chart because this is Really the detail detail stuff Um the It becomes more and more likely that if I move that out That this Wave 4 maybe was never Finished okay and that the wave 5 then Is still unfolding that would mean the Wave C is still unfolding and the wave
Two why what how could that be well that Could for example be the case in some Kind of a triangle pattern here for the Wave four so we had um from this that we Had something like a uh now triangle is Actually not really ideal it would have To be something like an um A b and then yeah a b and c in an Expanded flat because we never cut with This wave four we never cut into the Wave one price range so that's Absolutely likely if we drop below the 22 Cent level and then we will have Another chance to for anybody who missed An entry here you know if you want to Buy I'm not telling you to buy that's Just sort of how I currently see the Market Um Had another chance to buy at the 61.8 Flip level at 21.5 cents bear in mind When we were here I told you ideally I Would like to see it come down a bit Lower well maybe we are coming down a Bit lower now Because 61.8 flip level Um at 21.5 cents and if we lose that They were probably going to see the 20 Cent level Um but below that the breakout probably Didn't work out it wouldn't have worked Out right so what I'm going to do if we Come down lower I'm probably going to Add a little bit
Um after I took profits yesterday at 26.3 I think it was 23.6 cents and I Would buy today I think a 22 and a half Or something the first smaller entry I Showed you in the previous video how I Would enter as some kind of a triangle So very small position up here and then The closer we get to a stop loss Um to the to the set stop loss it would Uh grow in size so that the risk is very Very close to stop loss that's how I Intend to do it and there you go maybe We are now going to see the 21 and a Half cent level the 61.8 FIB level Coming down quite strongly at the moment Um very volatile today a lot going on There interesting but yeah this has to Be now the primary expectation so I can Actually take this out and the idea Would be that hopefully from here then We would start a five wave move to the Upside take that out as well confuses Only Um And we've already at 21.6 so yeah these Videos get outdated quite quickly to be Honest so 21.6 another chance to move up But the way this looks now yeah is that Um this way five we've seen now a one a Two a three there should be a four and Then we come down in five so going down To 20 cents would not be too unlikely to Be honest But this is the support area and then
Below 19.9 it's probably not going to Work out what I would say though Um if you decide to to go along here Anything and it's up to you if you do it Um I'm extending this to the right hand Side again to make it relevant again but If you go down to 19.9 cents give it Maybe a bit of space because with this Volatility that's going on here in the Market today with Chili's Um it could very well be that it very Very briefly goes below 19.9 And then shoots up again So maybe leave the trade a bit more Space if you do that obviously it Increases your risk so you have to work With your position size Um yeah a lot going on there today so I'll keep you up there try to keep you Updated so hopefully you like the update If you did please hit the like button Leave a comment and subscribe and if you Really like the content then please Check out the channel membership thanks A lot for watching bye