Foreign [Music] Unfortunately at the moment there is not A lot of action but that is often when It's worth watching because after such a Movement here in a tight range like this One you often get quite an impulsive Move so be ready for that don't be Surprised if very shortly we see quite a Bit of movement here because it has been Very volatile recently yeah and now it's Just getting squeezed in this tight Range which is to be fair one of the Tightest ranges I've seen in a while Um we are currently bouncing between Yeah 90 cents and 95 yeah and currently We are still waiting for a decision of The market here but what I can tell you Is that as long as we stay above that Wave one high at 89 cents we can still Go higher short term yeah and follow the Blue count the blue count is basically The suggested breakout count the path That medic would need to follow to carry Out a breakout And target for the third wave is still Around the one dollar Mark maybe even Slightly higher Um as long as we're maintaining above That wave one high we can look at this In terms of an impulse and In addition to that the decline that Occurred here well the decline of the 1st of November
Rough decline broad decline yeah looks Very corrective so it it maintains Currently it's set up for further Continuation Breakout Point here would be the 95 Cent Level then I think we can move to a Dollar basically A breakout to the downside here would Not be extremely good um not for the Buddhist scenario because it would Indicate that we are actually coming Down further Because it cuts into the wave 1 price Range is well ideally you avoid that in The bullish case and if we then follow Through and drop below 80 cents then I Think it is pretty pretty clear that We're gonna head into the yellow Target Area that is still a very very likely Option to get into this yellow area here Um Based on the wave count yeah we have the Wave count on the chart obviously There's a bullish and the Not So bullish Case or let's better call it a Short-term bullish and a more Medium-term bullish case because there Isn't really a bearish case on this Chart Um it's only sort of short-term bearish Here the White Wave count where we say From that wave B High we're moving down In five waves one two three four five Deeper into the yellow area
Um ideally into the region between 47 And 60 cents that would be the Short-term bearish count but still Bullish because from here I would expect A rally in a third wave Or and that's the other idea if we hold 89 cents we have a good chance to Rally Straight away from here so these are the Two options both bullish one just Includes a little bit more of a Retracement before we move up and that Is unchanged from the last few videos I Know I do repeat myself Um but unfortunately in a pair market Like this one repetition is you know it Is what it is you know Um unfortunately I can't I can't make The markets move Um and um yeah it you know we're also And that's interesting we're now below The 50-day moving average this is the Yellow line here so we've been sort of Moving around it for the last few days Now we're back below it but as long as We are in this channel you can actually See this as some kind of a bull flag Potentially I mean if you look at the Actual retracement We have really only retraced to the 38.2 FIB level My view is if we if we lose 89.4 we Still have a chance to find support at 87.7 cents that would not be great for The bullish case because we're cutting
Into the price range of wave 1 but it Wouldn't fully invalidate it Um but yet below the 50 retracement such As so-called bull flag is often not Working out anymore if you if you see The pattern as just sort of a bullish Pattern yeah but yeah this is where we Are with with Matic Um one more thing maybe to mention is That we might Get Matic to find support on this trend Line I know we have only two touch Points but you often see that if you Have a very obvious trend line you can Draw when the price drops to the Downside it often finds support on this Trend line and creates a third touch Point that would be at around 86 87 Cents if that happened today which it Doesn't need to it could just very well For a few days continue to move sideways Um before we see a decision here but Yeah keep watching I know this is the Time when everybody gets bored and wants To leave the market but it is actually The time when a strong movement is going To happen I mean you don't want to Listen necessarily buy-in when we've Already made the five moves you want to Be watching and you want to see this Break out life when it happens in real Time and of course I will keep you Updated about Matic hope 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 [Music] Thank you