RIVN RIVAIN looking for entry point - possible scenario
Assumption
the bearish movement starting from 180 USD is over:
Correction as ABC wave:
A ending at 107 (length 73)
B ending at 127
C ending at 50 (length 77)
--> A and C wave almost equal, this matches well
--->invalidation under 50, this would mean a longer correction in WXY for instance
This would mean, impulse wave is in formation
1st wave up to 70 USD
wave 2 ongoing, for instance as an ABC again
correction in 5 waves to 56 --> A wave
B wave leading to double top around 71
C wave ongoing in 5 waves
--> invalidation above the last highs
--> alternative: the double top is a X wave, Y wave ongoing
Possible targets for going long
gap 59,34
fibo around 57
stop under 50
the bearish movement starting from 180 USD is over:
Correction as ABC wave:
A ending at 107 (length 73)
B ending at 127
C ending at 50 (length 77)
--> A and C wave almost equal, this matches well
--->invalidation under 50, this would mean a longer correction in WXY for instance
This would mean, impulse wave is in formation
1st wave up to 70 USD
wave 2 ongoing, for instance as an ABC again
correction in 5 waves to 56 --> A wave
B wave leading to double top around 71
C wave ongoing in 5 waves
--> invalidation above the last highs
--> alternative: the double top is a X wave, Y wave ongoing
Possible targets for going long
gap 59,34
fibo around 57
stop under 50
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