Foreign Welcome to another update video about Cosmos atom in the last Cosmos update I Made you aware that wave 5 here of a was Probably complete or nearly complete end Since then we have come down quite Substantially I gave you a support area Here highlighted in yellow in which Ideally I would like to see wave B get Into and we're going to take a look at That in a minute but overall just for New viewers as well where are we with Cosmos atom Cosmos is one of the better Charts out there however it has lost Some credibility with the latest drop Here down to around 1067 1065. it came Down a little bit too low far away four It can still be counted away four it Didn't invalidate anything but it just Lost a bit of credibility because you Would normally not want Um A way for to get below the 50 Fibonacci Retracement and you can see we actually Reached the 61.8 and dropped actually Briefly below that even so it's not good Um and not perfect you know it's Imperfect and when you're trading you're Normally looking for the ideal waves for The best waves for the good waves for The reliable waves right Um however it's looking good you know And you know Um even though this move down was less
Than ideal well it was lower than ideal You know the market did recover and it Put five waves to the upside in place Which is good so we are looking at Higher still yeah with this possibility Here Um One two three already in the wave four In and now possibly in the way five with The Target around twenty dollars so I'm Counting those five waves as three waves Each And therefore the fifth wave consists of Three waves ABC and the Wave A is a five Wave move in there the wave b a three Wave move and the wave c a five wave Move if we now zoom in we had in my last Video I think five waves already Complete therefore I told you this could Have peaked now and we're coming down Into this area now let me just double Check the target area for this B wave Because it could have been that we Pushed a bit higher no actually not so This is perfect yeah I gave you this as A support area between the 38.2 percent Flip level and the 78.6 we've nearly Reached the 38.2 percent flip level you Could consider that Target reached Already but actually I would want to see A little bit lower in wave B yeah so Ideal would be here sort of the 13 lever 13.20 which is the 50 retracement or the 1257 level the 61.8 or even the 1167
Level the 78.6 FIB level but that would Already be quite deep here Um So yeah so a little bit lower expected I Think if we look at this wave B in Itself we could have completed today a Wave a when we bottomed at around about 1390 could be a wave B pullback now and Then another wave C to the downside so The wave B in itself is a three wave Structure ABC Um that's how you would normally expect It and that would take us deeper into This yellow area that would be a long Trade area at the moment that wouldn't Go long yet I would personally Personally wait For a deeper pullback so that the stop Loss can be set closer to the entry Point because this can still come down Lower should we however already break Above 15.90 which is the wave a high Then we are on track to reach higher Levels with the first resistance of 17 But actually it price target of around 20. okay that's my update about Cosmos Hope you like the updates 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 Thank you