Foreign It will be a quick update I know a lot Of people have been waiting for medic Update um but it's really only a quick One because not too many changes but Actually no changes since yesterday's Update Um the situation is still that Matic is In my opinion one of the best charts out There Um where we saw here a wave one that Reached all the way to 105 which means That we shouldn't really see the June Low again then here waved through to the Downside and we should ideally now be in A wave three to the upside and I can Give you a rough Target for the Wave 3 I Think we haven't done that and also by The way I want to talk about the All-time high Target for Matic in this Video because it's not a lot is Happening in the short term I think in The long run this could become something Interesting Um but yeah let's just look at the Wave 3 Target here 188 For that it would be the yellow Wave 3 Which would be which is here right that Should be actually here Um but it depends on how the sub waves Are stretching out as well so this is Really only a guide 188 is also the Minimum so it could likely be a bit Higher maybe all the way up to 2.16 yeah
It actually would it would actually sit Here Um but um this would require so that we Really move up here in a fifth wave Sorry in the third wave in yellow it Would require that we now That we now hold this swing low here Where I've got that let's say dotted Line at 83 and a half cent as long as We're holding this support level the Imminent upside action is possible and We could move up here in in red in this Third wave and reach possibly the area Around 145 to 150. Yeah so that is the area or that is a Upside price action within this yellow Yellow Wave 3 right Um and also as long as we are sort of Hanging around in this well you could Say in this sort of Channel or wedge the Problem is there's different ways of Drawing this Um There is a trend line here which we have Actually broken as you can see so it Broke that trend line Um but actually with those three lows That we've had here you can actually Draw a new trend line so It will be interesting to see how this Is eventually all coming together but Generally You could argue that we are in A large triangle of some sort Um we need to see now in which direction
We are breaking out here but it's really The case is really that the 83.5 level Is relevant need to hold this level to Enable us to move higher in this five Wave structure to four higher levels if We get a below this 83.5 Cent level Um then it would indicate that we are Going to come down to around 70 cents in This larger support area 70 cents and if We do that I would have to assume that This Wave 2 that we had here on the 21st Of September was never finished and that In fact we have done a very very large A B c correction with an overshooting wave B also not the most beautiful Um wave pattern but then that would Imply that we're now coming down in a c Wave of two and that we will find Support somewhere in the yellow zone Here between 47 cents and 70 cents and This is really the key point that 83 and A half percent level Advantage is we are Really really close to support I talked About that yesterday as well that we are Really really close to support and the Let's say invalidation Point Um can be identified quite quickly which Means that setting a stop loss should be Straightforward and really what I would Like to see for more evidence then that This red count to the upside is working Out is now in The Next Step a break out Of the triangle to the upside and then a
Break above that 96 97 Cent level here Those swing highs and then we could move Up to higher prices but really the 83 And a half cent level needs to forward As soon as we drop below that level I'm Focused on 70 cents and maybe then even Lower Um really again just to reiterate or you Know just confirm there is nothing Bearish on this chart really until we Break below 47 cents and as long as We're holding 47 that's sort of the the Larger support here this down here the Support area support level Um as long as that's the case we can Still move higher In this generally bullish pattern even If we pull back further but it would Then just be a one 2 and we would then move up in a three Four five and so on so let's take a look Before we finish the video at the let's Say all-time high Target for Matic And We start at zero with the fips because Of the chart structure then this was Wave one to the upside we came down to Around 31 cents in the low and the Target to the upside the minimum that's The minimum all-time high Target well For the next Bull Run all-time high Zone Would be 4.87 possibly all the way up to 595 and that would then be a third wave Because you would argue that this was a
Wave one which peaked in April May 21 we Are now coming on we came down in a wave Two and we could already be in that Third wave and again that could take us All the way up into this region around Yeah 487 and six dollars basically but Then there should be a fourth wave down And the fifth wave up and that could Take us all the way up to around seven Dollars and seventy so these are at the Moment only really there to give you Some rough estimations Um for targets because in the end it Also depends on the subway so they can Shift you know to a certain degree but Yeah that's my update about polygon 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