Elliott wave count in 1INCH symbol in daily timeframe
#1INCHUSDT
You see the 1INCH symbol wave count. According to the wave count, you can see that this symbol is in its second cycle. In the second cycle, wave 1 is completed and wave 2 is being completed.
Approximately three out of four waves 2 correct between 38 and 62% of wave 1, and at most one in six waves 2 corrects more than 62% of wave 1. 1INCH is of the second category. But I'm hesitant about completing wave 2 correction and the occurrence of point C, so I tagged it with a question mark.
Personally, I believe this symbol will have a deeper correction than point c, and then we will wait for the beginning of the third wave. To get confirmation of this issue, we can wait for a positive divergence of the ordinary type. I have given you an example of this divergence at the beginning of wave one.
By closing the candlesticks on the horizontal blue lines, the best opportunity to enter this symbol will be created. This analysis is Not a buy signal.
I am waiting for friends and professors to comment.
Thank you
You see the 1INCH symbol wave count. According to the wave count, you can see that this symbol is in its second cycle. In the second cycle, wave 1 is completed and wave 2 is being completed.
Approximately three out of four waves 2 correct between 38 and 62% of wave 1, and at most one in six waves 2 corrects more than 62% of wave 1. 1INCH is of the second category. But I'm hesitant about completing wave 2 correction and the occurrence of point C, so I tagged it with a question mark.
Personally, I believe this symbol will have a deeper correction than point c, and then we will wait for the beginning of the third wave. To get confirmation of this issue, we can wait for a positive divergence of the ordinary type. I have given you an example of this divergence at the beginning of wave one.
By closing the candlesticks on the horizontal blue lines, the best opportunity to enter this symbol will be created. This analysis is Not a buy signal.
I am waiting for friends and professors to comment.
Thank you