HI guys,
Since indicator are such in an aberration state taht they are not really reliable.. From a wave analysis it seems that we are in a zigzag 3 but i dont exclude a 5 wave pattern. what we need to identify is probable landing point. I will add a lot of detail in the hours and days to come. I post to you this blueprint and will work from that.
I had previously highlight a major imminent bearish crossover on the 1W MACD
I can state that we are in a bearish trend that why I project further down in price
Since indicator are such in an aberration state taht they are not really reliable.. From a wave analysis it seems that we are in a zigzag 3 but i dont exclude a 5 wave pattern. what we need to identify is probable landing point. I will add a lot of detail in the hours and days to come. I post to you this blueprint and will work from that.
I had previously highlight a major imminent bearish crossover on the 1W MACD
I can state that we are in a bearish trend that why I project further down in price
Trade active
2 scenarios. set stop loss, watching potential bearish crossover on the 4HNote
bigger picture is here. a notion of the elliot wave theory is the fractal nature of pattern. as you can see in the previous chart we identified 5 waves. the fractal nature help us to understand that smaller patterns can be identified within bigger patterns. In this sense, Elliott Waves are like a piece of broccoli, where the smaller piece, if broken off from the bigger piece, does, in fact, look like the big piece.Movement in the direction of the trend is unfolding in 5 waves while any correction against the trend is in three waves. We can see the rise in price move in a 3 waves pattern and it seems that the down in price moves in 5. so the trend is bearish.
So i think its too early to call th end of the bearish trend and to maintain the projected target point :
Note
On its way guysTrade closed: target reached
1rst target reachedTrade closed: target reached
i sold my stack and prefer to watch on the side
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.