kakatho420

ETH - Starting of New Elliot Wave Formation

Alış
COINBASE:ETHUSD   Ethereum
Elliot Wave Analysis

Must Happen Rules:
- Wave 3 can NEVER be the shortest impulse wave -> ✔️
- Wave 2 can NEVER go beyond the start of Wave 1 -> ✔️
- Wave 4 can NEVER cross in the same price area as Wave 1 -> ✔️

Help Indicators:
-Wave 5 breaks the trend line drawn off ->✔️
-Wave 3 parallel to a trend line connecting the start of Waves 3 and 5 ->✔️
-Wave 3 tends is long, sharp, and extended -> ✔️
-Waves 2 and 4 bounce off Fibonacci retracement levels ->✔️

As we can see the identified Elliot Waves checks all the musts.
Corrective pattern ABC formed, now we are seeing the start of the next Elliot Wave impulse (1).
In orange: possibility of two more correctional waves D and E before impulse wave (1)

Conclusion: Bullish 🐂

If you liked my analysis, drop a like and leave a comment.
If you have any thoughts or opposite analysis, please share with me in the comments!

Disclaimer: This is not financial advice.

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.