Price action and chart pattern trading: Elliott Wave 5 wave projection
> Ascending channel global pattern with i - iv wave ending diagonal formation : ii wave retraced 0.786 of i wave, iii wave ABC diagonal extended 1.242 of i wave with a bull outlook of further rising.
> 4-wave could retrace below the current local rising triangle wave as a temp bear outlook.
> Final 5 wave projected between 1.0 of local i wave and 1.618 extension of iv wave
> RSI and MACD bullish signal above baseline.
Always trade with affordable risk and respect your stoploss.
> Ascending channel global pattern with i - iv wave ending diagonal formation : ii wave retraced 0.786 of i wave, iii wave ABC diagonal extended 1.242 of i wave with a bull outlook of further rising.
> 4-wave could retrace below the current local rising triangle wave as a temp bear outlook.
> Final 5 wave projected between 1.0 of local i wave and 1.618 extension of iv wave
> RSI and MACD bullish signal above baseline.
Always trade with affordable risk and respect your stoploss.
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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.
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.