After studying wave 4, on a daily chart the candles of wave 1 and wave 4 overlap, which violates the Elliot rule. But before giving up on this being wave 4, I did a fractal comparison with 2017. If we are repeating the 2017 fractal, then this should be wave 4.
If so, expect wave 5 would end at $2 USD roughly.
If this is wave 4, then good news. If this is wave 4, then it is finished or in the process of finishing. It would not be acceptable for it to close candles below wave 1 candles again.
Let's see how the chart unfolds.
If so, expect wave 5 would end at $2 USD roughly.
If this is wave 4, then good news. If this is wave 4, then it is finished or in the process of finishing. It would not be acceptable for it to close candles below wave 1 candles again.
Let's see how the chart unfolds.
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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.