Eth/USDT Binance +Elliot Wave and Targets

ETHUSDT
4 Hr Chart:

Trade Management:

• Trade Entry: 123.90
  
• Stop Loss: 122
  
• Targets:
  
• Target 1: 143.28
  
• Target 2: 158.32
  
• Target 3: 169.94
  

Risk/Reward ratio: 28.72

Trade active

Comment:

METHODOLOGY/PSYCHOLOGY
Chart time frame - H4

Actions on:
*Activating Event*
-Elliott wave Theory: Eth currently completed a wave 5 combo with a Elliott triangle, where section (E) has bounced from a support Trendline. First i would be looking for a A,B,C Correction, However, If we formed a double Bottom pattern I will be looking for a Impulsive wave 1-5.
-Market Sentiment: Overall Bearish, I used news, Tradingview chats and Youtube.
-Fibonacci level: at 1.618
-Pattern Formation Falling wedge.
-Bullish divergence: today we have done a new low, but RSI closed at higher level.

Comment:

Comment:

Bullish divergence on RSI

Trade closed: stop reached

Comment:

Amazing trade