AMBROSUS (AMB) Has an Unusual Chart Pattern

SUMMARY

AMB/BTC has a bit of an unusal chart pattern. The correction is a WXY where the W is a wedge abc connected by the X to a Y that is an abc channel. The pattern is like a chart version of "Orthrus", the mythical two headed dog.

The channel shows a five wave subdivide and if the WXY label is correct, wave v should put in a lower low. Yes, there are other ways to count htis but what's important is the the shorter degree of trend direction will likely be down. However, the correction is also likely to be in the terminal stages which means casting a buy ladder would not necessarily be a bad time to cast a ladder!

Legal Disclaimer: 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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