The Long Investor

$ABNB TOP 20 - IMPORTANT NOTE -

Added 2023-10-22 19:25:05 +0000 UTC

On the majority of the charts this evening, I have added in a red line, which shows clearly where the bear case starts and states that below this line, the impulse wave becomes invalid.

Only below this line will a chart become invalid.

Weakness in the market can have no issue bringing a price down further as it searches for support along a Fib level or Moving average, this is very important to understand and I have said this plenty of times now but even today I needed to remind people about this in the chat group.

A chart is not wrong just because the price moves to a lower Fib level to find support!

We set Wave targets at the most common area to hold for that particular Wave, so Wave 2 typically pulls back to the 0.618 Fib and Wave 4 typically pulls back to the 0.38 Fib, in normal conditions.

When the market is particularly weak, it can pull back more. THIS IS WHY WE ALWAYS LOOK FOR CONFIRMATION OF SUPPORT, regardless of how long it takes.

Impulse Wave becomes invalid here below $104.