CryptoKnee

Eth offering up an Elliott Wave soft ball here?

Long
INDEX:ETHUSD   Ethereum
If you find this information inspiring/helpful, please consider a boost and follow!

Ethereum appears to be printing a beautiful impulse here.
An impulse is a fantastic anchor in Elliott Waves.
There are many ways it can develop that could telegraph a potential for continuation, or a reversal.
I want to see a completed impulse down here at a lessor degree, followed by a retrace to an area of confluence, about 50% back internally to the smaller degree impulse, before looking for a continuation down.
Since, per Elliott wave, price is fractal it could snow ball into a larger move to the down side.

3356 would be the invalidation for a the short.
If that is broken I would wait for further upside to complete, and look for the same clues higher up.

If it completes down and the impulsive move up is complete here, PA does not move up past 3356, I would be looking for a reaction, in the form of an impulsive move up. If this occurs I would scout for an internal retracement of the reactionary impulse to confluence before looking for a long.

More on the TradeDevils Discord discord.com/invite/tuvQsPYac6
Trade Devils University Sensei: www.tradedevils.com
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.