Lympo (LYM): Impulse Scenario

SUMMARY

Lympo (LYM/BTC) has been impulsing in a very nice form and fit style! The blue waves below show that waves 1,2,3 and 4 are likely complete which leave wave 5 to be placed. Wave 5 has already be underway for a few days. The key question is what's next?

For the completion of the impulse motive, the below shows the subwaves of the blue wave 5. There is one more remaining wave 5 to be placed. The MACD looks a bit oversold and it should turn up to support the remaiing upside swing. What happens once this five is complete? Well, first, there is a scenario for it to already be complete and the ABC correction might have already onset.

IF the above charts are correct, then once the blue five waves complete, there is a requisite correction. The below chart shows the price pathway for the ABC to decline at least to the prior wave 4. The MACD, after a brief rise to support the wave 5 completion, is expected to swing back down with the ABC price correction.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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