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Strategies & Market Trends : TRIPLE TRADES
OPEN 7.770+5.9%Oct 31 9:30 AM EST
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To: Tweets Boar Hog who wrote (2854)1/5/2023 11:53:56 AM
From: Bull RidaH  Read Replies (3) of 4391
 
DVN - “is this a 5th of c of B ending
diagonal? If it is look for top
late starting late Feb, it should
make a slightly higher high.
Then crash to 40 or below.”

It’s wedging, but doesn’t meet criteria for ending diagonal. Your labeling looks correct for a standard missionary style 5th wave move… Nothing kinky here. <g>

Patternwise, DVN is within an active megaphone, and is looking for the 5th touch near 67. A subsequent breakout from the megaphone in that area would yield a target of roughly 72 prior to HARSH reversal. That would fall shy of wave 3 of C’s peak, resulting in a truncated 5th.

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