Foreign Q and T still one of the better charts Out there Um where we moved from around forty Dollars back in June all the way up to 225 dollars in October and since then we Have retraced Basically into the region between the 61.8 and the 78.6 FIB level If it goes below the 81 dollar level Then the only last main support that's Left is the 62 level the 88.7 FIB level But ideally I don't want the price to go Below the 78.6 flip level if it does That it would reduce the likelihood here Of a bullish outcome and we might Actually break down it basically would Then be considered a failure to create An Impulse to the upside and it will in Fact create an Impulse down Okay but this is sort of the view that This was a larger wave one which is an Impulse and the Wave 2 down is currently Underway may be finished but probably Not yet Um and this is a wave 2 correction and Then the Wave 3 to the upset would Follow can give you a target for the Third wave as well not guaranteed to Work out but if it is working out then This would be the target Um assuming we come down to 81 which is The 78.6 FIB level we're talking about a
Target for of around 380 dollars just For the third wave then there should be A fourth down and a fifth up could take Us to around 570 Um now don't get too greedy or emotional About this this is just the potential But the per Market of course needs to Turn around okavant needs to turn around There but then it's possible I mean Kavan you know moved from around 40 to 225 so basically 450 percent within just Sort of a couple of months right so Pretty good outcome here now let's take A look at the um one hour chart to take A look at is this correction finished Could it be finished Um So from the spike here up there now we Came down and throughout this period Here especially when we then broke out To the downside of the try of that Channel or well trend line it became More and more clear that we would be Moving down further Um and we have now here five wave Structure in place one two three Four and probably the fifth wave Currently underway bear in mind we have Not made five waves to the upside here So it is not ideal this move up Um on a lower time frame yeah you might Be able to construct five waves in this Move so but primarily I would still Expect one more low
So let me explain Um I mean generally as soon as a coin Reaches these support levels I would Expect it to turn around primarily yeah But in this case it would need to hold The 81 dollar level and I don't I would Like to see one more low but it doesn't Necessarily need one more lower low the Reason why I want to see one more low is Because the move up was only in three Waves otherwise you could easily say This was a wave 4 here Move it up in four and we came down to Five and this is already a one two setup This is possible I would consider this a Possible one two setup as an alternative A primary expectation would still be Another low but This could be A possible turnaround and it would need To turn around now yeah ideally above 100 so a one two setup here long Possible long position but it needs to Hold the 100 level otherwise it will Reduce in likelihood and we will see That one more low and then have another Chance to Rally from there Um So primary expectation would be one more Low here even though the move down Currently looks corrective but we need One more low down and then we've got Five waves here in the fifth wave This would be the the idea would be that
This would be a wave four but this could Also be and this is sort of the turn Another alternative Um that we see some more sideways Movement here and that this Wave 4 is Actually an elite wave triangle you know We like those you know we hate them but They often happen so from this wave Three low which occurred on the 9th of November it could be that this was just An a wave here would be so-called Running triangle here is C this is a d And there will be a wave e and then we Come down I can give you a target for The wave e so I mean I don't know if This is going to be a triangle but at Least it allows us to pay some attention To it Target for the e-wave would be Around 120 dollars the 61.8 percent Extension and then we could break down From there Um there's nothing I would trade you Know Um What what would be interesting is Obviously if this is for me not a high High reliability one two setup Um but if it works out and we break Above the 126 dollar level then it would Be more likely that this is indeed a one Two setup and we would rally in a third Wave Um but then I will of course make you Aware as soon as I see that happen or as
Soon as I see a signal at the moment I'm Still looking for a new low it doesn't Need to be massively below um this swing Low which was at 95 Um just a little bit below that and from There we have then another chance to Move at the moment as long as we make Lower lows here lower highs I think um The low isn't in yet and further Sideways movement would confirm that as Well because it would just be a Consolidation in a possible Um Trend continuation pattern so Consolidation in a trend continuation Pattern short-term trend is down so then We get our additional low and it would Be ideal to hit really the 81 level Because if we turn around here we would Have only really reached some kind of a Well Not not really any critical support Level or FIP level but only only the 100 Level but ideally generally in this Whole space we're going to see the Turnaround and the larger bullish Pattern will get very very unlikely if We drop below 81 US Dollars okay and That's my update about kavant 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 please check out the channel Membership thanks a lot for watching bye Thank you