So for me it was very hard to see the comlete picture. I looked at several ideas and didn`t find it.
Here is my view of Enjin:
I think we saw wave 3 ending at $2.70. Its almost the 1.6 Fib mark of wave 1.
I expect Enjin to retrace to about 2.10 (wave 4, 0,38 Fib level of wave 3 and lower trendline) which will lead to the final wave 5 ( apr . $3.10).
It is also possible that we see a retace to $2,30 but I find it unlikely since we have the trend channel and indicators want a stronger pullback. It will get more possible if the correction takes more time and goes more sideways. So be patient.
After wave 5 we will see a deeper correction. If things play out how I think they will, I`ll post an update about the following ABC correction.
This picture leads also to the fact that this 5 wave pattern is the first wave of the big big picture this bullrun.
I appreciate any other view. I am still learning :)
This is no financial advice.
Here is my view of Enjin:
I think we saw wave 3 ending at $2.70. Its almost the 1.6 Fib mark of wave 1.
I expect Enjin to retrace to about 2.10 (wave 4, 0,38 Fib level of wave 3 and lower trendline) which will lead to the final wave 5 ( apr . $3.10).
It is also possible that we see a retace to $2,30 but I find it unlikely since we have the trend channel and indicators want a stronger pullback. It will get more possible if the correction takes more time and goes more sideways. So be patient.
After wave 5 we will see a deeper correction. If things play out how I think they will, I`ll post an update about the following ABC correction.
This picture leads also to the fact that this 5 wave pattern is the first wave of the big big picture this bullrun.
I appreciate any other view. I am still learning :)
This is no financial advice.
Note
Since I made a mistake with the wave 3 goal (which was $2,99), wave 4 will retrace to 2,50 or 2,25 to push in Wave 5 to $3,50.
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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.