Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
RR: 19.7
Possible upside: 1200%
Possible downside: 61%
Timeframe is on the weekly.
Elliot wave cannot predict time so do not try to use the timeline shown here for your trades.
What Elliot wave can do is help predict tops and bottoms (no one can predict these 2 accurately)
With the predictions it's supposed to help you use it as a method to plan your entry/exit your positions.
RR: 19.7
Possible upside: 1200%
Possible downside: 61%
Timeframe is on the weekly.
Elliot wave cannot predict time so do not try to use the timeline shown here for your trades.
What Elliot wave can do is help predict tops and bottoms (no one can predict these 2 accurately)
With the predictions it's supposed to help you use it as a method to plan your entry/exit your positions.
Trade active:
Update: Support & Resistance levels added
The chart above is a bit off, I colored the wrong line. The lower blue resistance has been moved up to the where the green in the middle is.
I also moved the wave 2 bottom of the bigger trend cycle to a lower point. All of my charts show this because we still have a possibility of another leg down. I do not want to exclude this possibility.
If the impulse wave have started it would look something like this sub blue wave. A break above the blue resistance line will confirm this.
If not our impulse wave will start from where wave 2 ends @.031 or so.