KOMODO (KMD): ABC waves
KMD is pricing out a complex correction of ABC. Except B is a five a,b,c,d,e point triangle. Once this is done, C down is next and as C waves are 75% of time the longest amongst the ABC, it could be deep.
However, for HODL, it's important to remember that whith every ABC correction, there is a turn to the opposite trend.
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You gave an alternative scenario for BCH: IF price busts out of the triangle formation and starts moving higher, then wave 2 is done and wave 3 up would be commencing.
Can the same thing get applied here?
Very astute! Yes! The triangles are known to fail. If that does happen,the the abc sub waves of A (red) would complete the correction. But about 78% or so, the triangles deliver.
Thank you for your insights.