ABC correction on Ethereum - Wave C incoming

4 Haz 2021

The rising wedge on ETH has completed ABCDE correction and we are ready for Wave C of ABC pattern that has started with a violent sell off in May. Following Elliot Wave pattern and Fibonacci retracement levels, we should be looking at following targets:
TP1: $1800
TP2: $1500
TP3: $1150

Please leave comment and like!

4 Haz 2021

İşlem aktif

Short Sell Entry:
$2680.00
Size: 2 ETH

Long Hedge Entry:
$2624.95
Size: 0.734 ETH

I'll be looking to close my hedge above $2700 once I see the corrective move up is exhausted.

Stop Loss @ $3050

4 Haz 2021

Not

Hedge Closed, small profit booked. Today was extremely slow, volume is really small and 1 hour stochastics just crossed down on the higher band. Expecting slow grind downwards from now on.

5 Haz 2021

İşlem aktif

PS Hedge closed @ $2714

5 Haz 2021

İşlem aktif

So far playing out according to the plan, I could have held the hedge a bit longer but that's fine. It doesn't look like it will be able to hold much longer but we need a break below £2550 to confirm wave 3.