Foreign Welcome to another update video about Quant so what we see here we see that The price bounced off the trend line and I think it uh It looks like that at least we have to We have to prepare for a bit of a deeper Retracement for Quant Um made you wear that so far we only had Three waves up that we need to be Extremely careful here with Quant and That I wouldn't do anything with Quan Really until we have five waves to the Upside and then if we get the five waves Up I would buy the retracement as you Can clearly see we don't have five waves Up we only have three waves up so I'm Going to pay a lot of attention to this At um going further this could of course Still be a fourth wave yeah but it has Lost in reliability and why is that That's purely because Um At the moment this Wave 3 was not the Ideal length So there's a few problems here with this Chart now Um which doesn't really convince me yet That the low is in okay it could be in Here and we've seen some nice price Action but the price needs to do much More the chart needs to do much more to Convince me that a low here has been Made and that we're already moving
Higher in the third wave I already made You aware in the last video that I Um or in the last videos anyway that my View is that this year was a wave 1 to The upside wave one all the way up to 230 or something and then we're now Coming down in Wave 2 and that somewhere Here we should now reverse So it could still go down lower yeah 81 Is a very important support as well so Until we really see strong evidence that A low is in we need to be careful Because we are still in downtrend we Still make overall lower lows and lower Highs Um We haven't broken back above the trend Line so we're still below that channel So we might all we might do at the Moment is just a retest again right Another retest if that's not successful We'll probably come down and roll over Once more and come down to maybe 81.82 Dollars to finish off or have and then We have another chance to put a Substantial low in but that's the whole Point of waiting for five waves up And then waiting for the retracement at The moment we only have three waves up Doesn't really give a lot of confidence And the other problem I have with this Chart that within this structure like in The in the yellow wave one yeah so let's Say in the yellow wave one of the
Structure we also only have three waves So I can't really count a clear impulse So yeah you know I'm I'm a bit Um well I wouldn't say concerned but Obviously I'm observing this but at the Moment this is not entirely clear to me Here if this is going to push higher Once more obviously we need to wait what The market is doing because you know we Can only react to the market maybe this Is something like a descending wedge but It's not very clear yet what is Important Um to mention as well not only that we Only have three waves but If we draw the fips the extension is the Target for that third wave it should Have reached 132 dollars Ideally for a third wave no I didn't do That it fell short Um now that is not an absolute Um major problem but taking the whole Package together it's just not in a very Convincing structure here in addition to That we can now look at Key Fibonacci Retracements because in a way four We should not drop below the 50 FIP Lever so we get it close so 115 dollars If we go below this level then I think For now this move up is over and we are Gonna head for new lows or at least for A retest of the um 103 the 104 level low Here we'll see certainly if we retrace More than 115 dollars again it would
Take away some more confidence of this Chart not generally it's still in an Overall good pattern and let's say Bullish pattern but here short term it Would rather point for me to another low So bottom line is yes you know maybe the Chart is reversing it's at least trying It's working on a possible breakout but It hasn't done enough yet to convince me So I'm not doing anything here at the Moment until I have a clearer signal So if I see a move up here of course you Know then that could be a signal we get The five waves but then I would want to See the retracement in three waves ABC I Want to hold the support area and I will Then buy the support area that it will Talk to you about when we get to that Point but at the moment You know no reason to chase here for Your green candles at least I'm not Doing that you can of course do that if You want if you like to I can only share With you what I see in the chart and It's nothing that convinces me yet that A low is in okay that's my update about Command Q T 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 Thank you