Is CND Ready For Wave 5?Please reference Chart.
1. The current CND channel, marked in purple, shows the potential for completion of Elliot 5 Wave which states that price action travels using a 5-point wave followed by a 3-point correction.
This would leave CND with one more wave back to the top of the channel at about 1550sats, and would then experience a 3-wave corrective move.
The pattern would be nullified if price broke through the top of the channel, or maintained its course inside the channel through the next wave.
2. The "Bars Pattern" tool (left side taskbar) can help visualize one potential course of price action by copying the previous wave's path, but of course should never traded on or given much weight in general.
3. The target of 1500-1600 sats yields over 80% returns with a significant Risk Reward Ratio (RRR) of 6 (which is measured by comparing potential gains against a stop-loss position).
I generally trade anything with an RRR of 3 or more, so a 6 is definitely an attractive bet, like having a straight on a board with no flush potential.
Position: Long
Potential: 82% ROI
Trade CND: www.binance.com
CND
CND 12345 Elliot wave topping at 999 sats, ABC correction to 750A perfect Elliot 12345 Wave to 999 sats today 4th Jan 2018 followed by what I believe shows could be a dip to 750 sats in an Elliot ABC correction near the low 4 of the prior Wave 4.
Things to note:
Wave 2 correction was sharp!
Wave 4 correction was flatter!
$CND taking off...broke resistance on triangle and testing ATH$CND RSI is heading up and it just broke resistance on bullish flag triangle. This is indicative of the next leg up!
