My outlook for ALT LAYER
I am actually on the camp that it has bottomed and will be headed for the targets above. The second measurement up is extended but the first is ideal and more certain. there'll be a likely retracement there. (so as a trade, thats the TP)
SL should ideally be a daily close below the 0.28 zone (of which i will be surprised if it even goes there.)
If it can retrace to between 0.32 and the higher 0.29 region, it will provide a great risk to reward (RR).
The yellow box price is the fake bottom (at least according with my T.A). True bottom is the (C) so buying into the retracement is really good.
If it has not bottomed yet and is going to continuously put in new lows then i dont know folks because this is a classic textbook EW correction similar to what we saw with stos.
