This is purely so I can practice for my elliottwave exam.
This could be a wave 5 move of the greater trend, or this could be a wave 5 of the wave 3 of the impulse.
I am more convinced that this is the wave 5 of the greater impulse since we have seen a move to the 1.65, which is the usual wave three target.
This seems like an impulse since it meets the following critere:
Broke out of the base channel
Can not be contained within parallel lines
A 5 wave move, followed by a 3 wave, followed by and extended 5 wave move and then a 3 wave.
The wave 2 and the wave 4 show the alternation guideline. Wave 2 is short and a zigzag, where as wave 4 seems to be a longer flat or triangle shape.
Target for this trade is 2.414-2.618 range.
Expermenting with time analysis
Since the wave 4 divides the impulse in fibonacci time and or price, I am assuming that the end of the wave 4 means the wave is 0.786% done. I expect that the final wave should end April 7th 2021 at 12:30 or sometime between 8:00 and 13:15
This could be a wave 5 move of the greater trend, or this could be a wave 5 of the wave 3 of the impulse.
I am more convinced that this is the wave 5 of the greater impulse since we have seen a move to the 1.65, which is the usual wave three target.
This seems like an impulse since it meets the following critere:
Broke out of the base channel
Can not be contained within parallel lines
A 5 wave move, followed by a 3 wave, followed by and extended 5 wave move and then a 3 wave.
The wave 2 and the wave 4 show the alternation guideline. Wave 2 is short and a zigzag, where as wave 4 seems to be a longer flat or triangle shape.
Target for this trade is 2.414-2.618 range.
Expermenting with time analysis
Since the wave 4 divides the impulse in fibonacci time and or price, I am assuming that the end of the wave 4 means the wave is 0.786% done. I expect that the final wave should end April 7th 2021 at 12:30 or sometime between 8:00 and 13:15
İşlem kapandı: hedefe ulaştı
It is incredible to think that we hit the top at 10 am, which was only a couple candles off of my original idea. All in all, a really well-planned trade.
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.
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.