Foreign [Music] Video about Cosmos atom we had a bit of An unnatural Spike here today On the cosmos or atom chart for me very Very unnatural and also not it doesn't At least look sustainable Oftentimes those spikes don't really Result in a sustainable uptrend and now It could do certainly we had a bit of Volume come in but unless we we break Above This descending trend line I don't think we're gonna I can't Confirm that we are moving yeah to the Upside Um my view is still and I did talk about That in the in the last video that we Are here in this one two setup Um wave one up Wave two down basically yeah in an ABC Pattern now I had in one of the previous Videos we had two scenarios we had one Scenario where we moved up in a wave one And then Um What was it we came down in yeah one no One two yeah and then here off the Higher degree wave three the next one to Set up and it in this scenario you would Have expected a rally from here but we Didn't break the high so I also showed You the second scenario where it would Be likely to then get into this support Area
Which would be a wave one up and then a B c down We did rally today without touching that Support box this support box is based on The FIP levels so looking at this Let me see yeah okay looking at the flip Level see the wave one up We've got the 61.8 retracement and the 88.7 retracement between 891 and 937. I did expect because we dropped below This support box to reach this support Area the next FIB levels and not turn Around in the middle of nowhere I mean as you can see if I draw the hips Differently it did react today here Perfectly to the 61.8 percent Retracements but I only but I would have Had to draw the fips all the way to the Top Now I normally wouldn't do that because I have to draw them to the high of the Wave one so my expectation is still that We get into this area the way this looks To me at the moment is a diagonal Pattern that we in this wave see come Down in a so-called ending diagonal in a Five wave structure one two three Four and five it is really only if we Break now above the wave too high here Yep get out of the channel would be the First indication that we're already in The third wave to the upset and finishes Um a little bit earlier than expected so Break Above This wave too high then
Would be the next step above 10 56 and Then the target for the Wave 3 would be Let's try this Target for the Wave 3 would be Around about 12 and 29 yeah but then it Would go higher as well that would only Be the Wave 3 Target Let's see it will it is very interesting Now because we had a bit of volume and Um we see a few more green candles here But I'm not convinced yeah this could Very easily just be the wave one and two Or five now let's see Um I'm not convinced this is a breakout Already could become one but then I Would really want to see the breakout Above this structure here Um I already entered a long position Around ten dollars it was it in this Support area yeah Um And yeah I'll be happy if it goes up Further But um if not I get stopped out right And we'll reset lower so I think it is If it goes below 940 I do get stopped Out and I will then look if I can Re-enter maybe around the nine dollar Mark again so we'll see but generally if For me here short term upside potential Yeah certainly Um to maintain this short-term upset Potential we need to hold above 8.90 And if we drop below that level we have
To reset this wave to the higher degree Wave 2 lower over here yeah that means If we drop below an 891 my idea on my Target would then be the area between Eight dollars and 6.80 that would be the Next area where Cosmos atom can reverse To the upside but until we invalidate This pattern here Um I'm going to you know I'm going to um Focus on this one only really if we go Below 890 then we have to focus on the Alternative let's see let's see Um what is certainly interesting Let's take a look at the indicators Um what is certainly into one or second I need to I need to I need to want to take this One out don't you know what it is So what I wanted to show you is here on The daily chart on The Daily the Momentum is starting to pick up a little Bit Yeah you see the reduction of Positive momentum is currently reversing Yeah the first candle where We've Got Deep green again so it could very well Be we push higher from here we just need To keep an eye on that if that continues For the next couple of days or so it Could really hint at a break out here to The upside four hour chart it's also Pushing up which is a sign for or let's Say a precursor of what could happen on The daily chart yeah so the daily chart Is obviously following the four hour
And now the one hour This is sort of neutral yeah but the Four hour is pushing higher and could Really translate over to the Daily and Then we could continue to push higher I'd be happy either way Um I'd be happy either way because I did Enter my long position so if we push Higher I'm gonna realize some profits Around the 12 13 Mark if we come down Lower then I get stopped out and we'll Just have to reset lower but then we Would at least fulfill here the the uh The primary expectation of getting into This area now and reverse it would be a Bit strange to turn around in the middle Of them between these two support areas But sometimes the market just does funny Things but at the moment this to me Looks very much like a three wave move Up in a way four which is now coming Down in a fifth wave we'll see I guess The next few days we'll know more Um and you should now know the key Breakout points here And the relevant support area to Maintain this scenario okay and this Might update about atom I hope you liked 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
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