Fantom Weekly Elliott wave count
Fantom looking promising on log scale.
Price was rejected into 1.618 fib extension of an impulse that may be Wave 1 than moved down into a correction that may be an expended flat pattern.
The price held an important level from 0.1530.
Keeping 0.1642 level and than clearing 0.5468 it may start an impulse that may be the 3rd wave from a bigger degree 5th wave.
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Price was rejected into 1.618 fib extension of an impulse that may be Wave 1 than moved down into a correction that may be an expended flat pattern.
The price held an important level from 0.1530.
Keeping 0.1642 level and than clearing 0.5468 it may start an impulse that may be the 3rd wave from a bigger degree 5th wave.
Hit the like button if you like my analysis and follow me for future updates!
Good luck!
Comment:
I am very confident in this count as we have a divergence here for wave 3 with wave 5
Comment:
Fantom remains bullish invalidating leading diagonal count.
Probably will continue to move upside to end a 5th wave from a 3rd bigger degree wave. Targets 0.3373 - 0.3501 range for this 3.5 Wave
Probably will continue to move upside to end a 5th wave from a 3rd bigger degree wave. Targets 0.3373 - 0.3501 range for this 3.5 Wave
Comment:
Still the trend has not changed tot he downside but the Price contracting as it move up and also divergence remains that signals that may shift it soon.
Clearing 0.2978 pivot probably will shit it
Clearing 0.2978 pivot probably will shit it
Comment:
Fantom probably will retest a previous broke resistance with an expended flat correction for a 4th wave from the 3rd wave from a bigger degree.
If the price retest the resistance and than clear 0.3161 we will have big probability to be into the right count
If the price retest the resistance and than clear 0.3161 we will have big probability to be into the right count
Comment:
This is on 15 min chart to better understand what I said.
Comment:
Fantom price probably is into a 4th wave triangle correction before ends this 5th wave from a bigger degree 3rd wave
Comment:
Probably 4th wave triangle is completed. breaking the d pivot will confirm this
Comment:
Trading above 0.2999 will favor that an impulse from 0.2827 has started to complete a 5th wave from a 3rd wave as the price has not cleared 0.2822 maintaining the possibility of an 12 12 structure
Probably a leading diagonal for wave 1 and I am expecting to enter into the correction phase for wave 2.
Going up above 0.3225 than this leading diagonal is wrong.
Usually correction after a leading diagonal goes beyond wave 2 from it (0.2534). Also there we have 0.618 fib retracement level of the entire leading diagonal.