EGLDUSDT.P
just got out of a long Elliot Wave cycle, and is now starting to form another one. With Waves 1 and 2 now formed, we can try and predict where and when Wave 3 will extend.
I think Wave 3 will extend at the 1.618 Fib Extension since there is a big OB at the same level. The price might face a some resistance at $65, and that is why I expect Wave 3 to end around the 2.618 Time Zone.
This is just my view and it does not represent a financial advice.
Best of luck to everyone for 2024.
NOW:
I know that the Elliot Wave setup is now invalid because Wave 4 retraced in Wave's 1 zone. HOWEVER, on EGLD this has happened before and it was just a liquidity sweep. I will monitor the chart closely these days and I will keep everyone updated.