Lost in Waves
Please be kind, i´m just starting to lern the Elliot Wave Theorie and want to praktice what I`ve learnd in the past week.This is only a Idea of a midterm Trading Plan, its no Financial advice nor a trading setup itself.It just shows an Idea which could be used to form a proper Trading setup.
We can see a Breakout of the corrective Triangle but without Volume so it´s more risky. In Case of failing of this breakout and if it can´t hold The 0.618 fib lvl. and fall back into the triangle would be really bearish and would invalidate this IPlan. This could result in a Bulltrap so take care of your Riskmanagement. The Wave Targets are based on the trending Fibonacci extensions and should be adjusted with Horizontal Levels, shortterm Reversal Patterns, RSI divergences/MACD Crossovers for much more Precision.
Greets,
Crafty
We can see a Breakout of the corrective Triangle but without Volume so it´s more risky. In Case of failing of this breakout and if it can´t hold The 0.618 fib lvl. and fall back into the triangle would be really bearish and would invalidate this IPlan. This could result in a Bulltrap so take care of your Riskmanagement. The Wave Targets are based on the trending Fibonacci extensions and should be adjusted with Horizontal Levels, shortterm Reversal Patterns, RSI divergences/MACD Crossovers for much more Precision.
Greets,
Crafty
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.