The queen will follow the king in a bullish market
Greetings,
Dear friends, I hope you are well and have a week full of successful and profitable transactions.
I haven't been in the service of the companions on the Trading View platform for a few weeks because I was completing an educational resource. I hope I can make up for my absence from now on, but if I see a valuable market, I will share it with you.
The text of my analysis:
Yes, Ethereum is the queen of cryptocurrencies due to its more reasonable price. Like Bitcoin, it showed a corrective structure, which is a zigzag pattern. Based on my view, I have named it the fourth wave, and after that, an impulse pattern was expected to take place in the price, which is quite evident. But what is important is what correction pattern will be formed in this process and, more importantly, how much of the Fibonacci correction will be removed! Is it shallow or deep? (Each wave moves or expands in proportion to its previous wave) that we will again see price action with an impulse pattern. In addition, Ethereum will surpass the progress of Bitcoin in its past trend but in proportion to the growth.
It should be noted that we should be patient until the completion of any type of corrective pattern and in a lower time frame, we should use channeling in the variety of patterns because usually, a corrective pattern ends in two parallel lines.
Note: I am an analyst in the world of principle wave, who has entered the fourth year of my work experience, and I am developing an analytical idea. In financial markets, there is no 100% certainty due to the complexity of different patterns that can change. However, I do my best to back up every analysis I share with you guys with everything I've learned so far.
A brief explanation of the three fundamental laws of the wave principle:
1. The second wave should never go beyond the beginning of the first wave.
2. The third wave should never be the shortest wave between waves 1, 3, and 5.
3. The fourth wave must never enter the territory of the first wave.
Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future, simply.
May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world.
I am attaching the analysis of this market that I shared with you earlier to this current analysis.
The last word of my analysis text is repetitive, except to explain the current analysis because I also trade in the financial markets and I am active in my social networks, and I work hard to improve my skills in analysis and trading to reach my goal.
I apologize for repeating the text.
I welcome suggestions and criticisms, and I will respond, but a logical reason is important to me.
Thank you for taking the time to review my analysis.
First of all, I wish good health and success to all my dear friends and colleagues.
Mr. Nobody
Dear friends, I hope you are well and have a week full of successful and profitable transactions.
I haven't been in the service of the companions on the Trading View platform for a few weeks because I was completing an educational resource. I hope I can make up for my absence from now on, but if I see a valuable market, I will share it with you.
The text of my analysis:
Yes, Ethereum is the queen of cryptocurrencies due to its more reasonable price. Like Bitcoin, it showed a corrective structure, which is a zigzag pattern. Based on my view, I have named it the fourth wave, and after that, an impulse pattern was expected to take place in the price, which is quite evident. But what is important is what correction pattern will be formed in this process and, more importantly, how much of the Fibonacci correction will be removed! Is it shallow or deep? (Each wave moves or expands in proportion to its previous wave) that we will again see price action with an impulse pattern. In addition, Ethereum will surpass the progress of Bitcoin in its past trend but in proportion to the growth.
It should be noted that we should be patient until the completion of any type of corrective pattern and in a lower time frame, we should use channeling in the variety of patterns because usually, a corrective pattern ends in two parallel lines.
Note: I am an analyst in the world of principle wave, who has entered the fourth year of my work experience, and I am developing an analytical idea. In financial markets, there is no 100% certainty due to the complexity of different patterns that can change. However, I do my best to back up every analysis I share with you guys with everything I've learned so far.
A brief explanation of the three fundamental laws of the wave principle:
1. The second wave should never go beyond the beginning of the first wave.
2. The third wave should never be the shortest wave between waves 1, 3, and 5.
3. The fourth wave must never enter the territory of the first wave.
Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future, simply.
May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world.
I am attaching the analysis of this market that I shared with you earlier to this current analysis.
The last word of my analysis text is repetitive, except to explain the current analysis because I also trade in the financial markets and I am active in my social networks, and I work hard to improve my skills in analysis and trading to reach my goal.
I apologize for repeating the text.
I welcome suggestions and criticisms, and I will respond, but a logical reason is important to me.
Thank you for taking the time to review my analysis.
First of all, I wish good health and success to all my dear friends and colleagues.
Mr. Nobody
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