The Triangle has developed into Wave-iv. Therefore, we can assume downward move in progress. By the using lower TF (1hrs) , we can determine exact trading entry, exit and target. Shortly, I will upload the chart of 1hrs.
Best of Luck 4h - TF: D - TF:
Let's move more to a lower timeFrame for determining what's going on. 1D - TF:
0.74666 below, extended wave (Y) = 100% of (W) expected T1 at 067909 Retracement 50% at T2- 0.66043 and, 61.8% at T3- 064007 of Wave (2). Risk & Reward = 1:3.5 Let's move on 4hrs timeframe to get closer to trading levels.
The scenario 1 is clear visuable on the chart but scenario is against the direction of scenario 1 for short term only. Suppose to wave 2 is not completed.
The Issue in globle market perspective. The breath - 1.2061 If the price can not substain above 1.2061, then we can see continue fall. After corrective pattern of triangle, we are seeing fall. The expected wave v is eqaully to the wave i.
Everything are written on chart. The chart having basic of Elliott Wave principle, for taking action we have to work on advance calculation.
For the more accurate trade setup, we've move on 30 min chart pattern.
You can easy to understand the above chart. thank you. Look at my recent update chart on bitcoin: There're many worked by me.
Bitcoin(New High) & the price still push upward...! Above the, 41108 i am not thinking about bearish anymore. Do you remember that I already predicted this price trend in last update? If you had like that posted idea you could alert. you can also check where can i publish that idea: Check our 2nd Feb 2021
Mandatory 0.786 retracement of the XA leg (approximately B retraced) & AB = CD to be a valid signature. The most critical number in the pattern is the 1.27 XA leg for BC project Exactly, we have seen a reversal from the D point. I've pre-projected Triangle which is only my expectation without any confirmation nor verification. This is my internal feeling and &...
Let me reveal out the Wave Counting from Basic and then, we will move to lower TimeFrame to determine actual trading levels. The primary wave of motive cycle has-been started since 2000 and completed in 2008 on the weekly chart. The primary W. 1 + W.5 is equal to W. 3 approximately, therefore, you can say the impulsive W.3 is extensive. It was clearly...
Triple Zigzag correction is a combination or series of three zigzag corrections (three “ABC” cycles) connected by a link wave “x” between every “ABC” cycle and its internal structure is (ABC-x-ABC-x-ABC). Triple Zigzag correction always forms a wedge pattern and that wedge may be triangle or parallel. This Elliott Wave pattern can give huge profit with minimum...
As per all of historical records with counting of the wave, we concluded that the price move 34707 and 33200 or 38700. 5+3 = 8 Waves counting is not hard if you close chart closely. Longer view for counting waves: Complete Waves:
I hope you remember the exact prediction of my last research. You should look it: ------------------------------------------------ This is to look like a downward motive cycle. Let's make a trade condition : If the price is traveling toward the 5th sub-wave, the price will not cross 32774. Right now, Bitcoin progress under the 4rth wave and then the price can...
4rth Wave in down direction: The projection of A flat correction (W), (X), and (Y) zigzag pattern of Elliott Wave. Expected A, B, and C correction after the 5th minor sub-wave. Suppose, the price can travel for primary(C) wave(red color) then, 29480 extremely ready for the target. (INCASE OF THIS IS LONGER CORRECTION, THEN THE PRICE TAKE CREATE NEW HIGHER HIGH...
The price is looking for sub-wave 5 and then ABC correction. If you have any question or request, kindly comment. 4 Hrs chart : 30min chart for ETH: