Here I applied the Elliott Triangle Wave. Each wave should have atleast 3 subwaves in descending-ascending-descending order. I drew what could be an incoming impulse wave after we complete the triangle guided by the volume profile and resistance/support levels. Looks like were bouncing between the node located at the 150ish area and the 114ish area. Theres a strong developing point of control at below us at the 109 mark.
**THIS IS NOT FINANCIAL OR TRADING ADVICE**
**THIS IS NOT FINANCIAL OR TRADING ADVICE**
Note
Condensed the volume profile. Retraced a different impulse elliot wave.Note
Zoomed into the peak at the 240$ level. Looks like the volume profile is showing a high volume node taking us in the 150$ direction. I think theres going to be a retracement afterwards down and more or less follow the D-E elliot wave.Note
Will it go red or green? Either way, looks like its up later.
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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.