effe_lava

effe_lava

i know many of you could say the 15m tf might be too unpredictable to analize but using the Elliot Wave it becomes much easier to read charts movements...one understood market bias ( midterm trend is bearish ) we can go into deeper timeframe to find better entries. combining this technique with the topdown analysis could be really helpful. in this case we are...

effe_lava

Volume going down like price action usually sign of a reversal Price finding support on 38.6 fib Bullish pennat pattern Rsi bullish divergence

effe_lava

In an healthy market after a long period of bullish trend a correction to the bigger EMAs MAs is needed. Here im showing you the target the target that should be met on the longer term. 200 Ema confluence with the 61.8 fib. Taking a look to the PA you can easily notice the formation of LH and HL. Have fun and let me know what you think... this is not a financial advice

effe_lava

This is how the reversal should looks like based on the Elliot's waves theory

effe_lava

Every melt down has been announced by a doji formation at every test of the trend line. Let's wait for today's candle closure and see if it form another doji for a good short entry... leave a comment and let me know what you think