5 Elliott waves completed RSI trendline broken Pitchfork - At the median line At supply zone SHORT till 38.2 and 61.8 retracement
1.5-0 pattern. Price at Potential REVERSAL Zone between 50 % retracement and AB=CD 2. Price at SUPPLY ZONE - The first consolidation after change in trend. After that consolidation we saw HUGE candles. 3. RSI HIDDEN BEARISH DIVERGENCE 4. Market in a downtrend 5. Upper parallel line of frequency-shifted pitchfork SHORT
Price at potential reversal zone of AB=CD pattern Elliott wave ABC completed The wave C is unfolding in expanding diagonal pattern Price at lower parallel line of pitchfork RSI divergence present LONG NOW
A,B,C corrective wave completed Liquidity pool tapped above Crab pattern Target using the pitchfork
1. At the lower parallel line of pitchfork 2. 5 waves completed 3. At potential reversal zone of BAT pattern 4. At demand area via the flexible volume profile setup LONG
Background We completed the wave 5 which unfolded as EXPANDING DIAGONAL. We are in corrective wave B. Look how the wave A ended just at the lower parallel line of pitchfork. Plus a CYPHER pattern also formed. Prediction Wave B will retrace 0.5-0.618 of A. Then wave C will take us DOWN.
At supply zone Candlestick - Inverted hammer Elliott wave 5 about to start Upper parallel line of the pitchfork Short till the median line
Elliott wave 5 completed Subwave 5 of wave 5 also completed At the upper border of modified Schiff pitchfork drawn from waves 2, 3 and 4. Target the 38.2 retracement or 61.8 retracement SHORT
RSI HIDDEN DIVERGENCE ELLIOTT 5 starting Target the median line Target is also the demand zone located below
Elliott 5 Upper parallel of pitchfork RSI divergence PT1 38.2 % retracement PT2 61.8% retracement SHORT
1. Flat correction (3.3.5) ending 2. At demand zone 3. RSI divergence
1. On sub-wave 5 of wave 5 2. Expanding ending diagonal 3. RSI divergence 4. Wave 5 is 78-100 percent of wave 1 SHORT
At demand area Lower border of pitchfork RSI divergence
On wave C of 4 Target the point of confluence After it reaches the point of confluence, wave 5 will move down.
AB=CD Lower border of modified Schiff pitchfork At demand zone RSI at pitchfork support
1. Wolfe wave - Connext 1 to 4 to estimate the target 2. Also ABC correction has ended
1. Upper border of pitchfork 2. Supply zone 3. Gartley PT1 the median line PT2 the lower parallel line