Hello traders and analysts, Here is our take on the Elliot wave 5 wave, now a larger 3 wave correction needed to take place? . Technicals? We have completed the the downward impulse of the wave pattern 1-5, with all waves forming without breaking the structure. we are now in the minor wave 2 structure. and next up is the 5 wave corrective structure and looking...
There is a possible long swing in Gold as I am still expecting a 3-wave move up before the downside resumes. However since on the 4H time frame we look red I would still wait with a entry here until we have more confirmation in the price action 1H.
3-Waves have tended to extend longer in crypto than other markets. We could see BAT pushing passed the 4.16. Stay tuned. Good luck.
According to elliot wave theory we can see a 3 wave structure unfolding that can yield a buy signal with a target at the upper trendline.
3 vector move up almost complete we looking for a short trade before the markets reverse up to the original move...
We just finished the ABCDE correction and with that the complete second wave. Next up is the most impulsive 3 wave.
After forming the FLAT BASE pattern, ADA consolidates more time than I had planned and makes a bullrun up to the price I had set as objective. For us to take into account: ADA / CARDANO came to earn the number 6 spot in the currencies with the most market capitalization, leaving behind promising giants and currencies like DASH, IOTA, XMR and for me it will soon...
If we broke down trand , than we can make new ATH within 1 or 2 weeks.
CADJPY Equal leg correction and 50 % Retracement of wave XA. Possibly CADJPY will continue move higher after this three wave correction. Break-Even @ 50% Retracement of wave AB Targets are (61.8% Extension of XA Related to B) and (100% Extension of XA Related to B) Good Luck!
- Wave 1 finished - - Wave 2 in the making - ''correction'' - Looks like- A wave pullback in a bigger ABC correction - Possible short term '' sell'' down to fib level. - Then turn to complete the B wave