AlgorandUpdated $Algo/USD Wave Analysis
The biggest risk to this chart is labeling the leading diagonal as ABC of Wave of 1 instead of Wave 1. If the ABC is in fact Wave 1, then Wave 3 peaked at $1.50 and Wave 5 at $2.50 and the local top has been reached.
Not financial or trading advice. Let me know what you think.
Not financial or trading advice. Let me know what you think.
Note
Noticed a mistake after posting the chart. ABC is supposed to be end where the A currently resides. ABC is a wave 1 for the 5 minor waves leading up to the actual Wave 1 in yellow.
Note
Wave complete. Adjusted start of Wave 1 to the 10/20 EMA cross.
Fib levels with new starting point:
- Wave 1 peak at $1.5150
- Wave 3 peak just below the 2.618 fib level of Wave 1
- Wave 5 peaks at 1.236 fib of Wave 1 length from .382 retrace.
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