🔥 LUNC Huge Elliot Wave Pattern? Last Bullish Leg Incoming

30 sept. 2022

LUNC has been seeing some serious gains ever since it bottomed back in June. In this bullish process, I think we're starting to see an Elliot Waves pattern emerge.

Assuming that LUNC the bottom at around 17.5k (omitting the zeroes) was indeed the short-term bottom, we could now very well be at the start of the third bullish leg upwards.

When we apply some basic Fibonacci extensions we can determine a rough target area in case this is indeed a third (and last) bullish leg in an Elliot Waves pattern. The yellow area "Target Zone" is my target for now.

Patient traders will wait for LUNC to make a new high (>60k) before stepping in. Apply your own risk-management.

30 sept. 2022

Note

An ever better risk-reward trade would be to wait for a daily close above 33k. Be aware it's a higher risk trade.