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andre_007
Oct 30, 2021 12:37 AM

Elliot waves on ELROND\USD pair Long

EGLD / US DollarBinance

Description

On the 2-week chart, we can see that the bullish cycles repeat for 9 bars (126 days),
and that the bearish cycles repeat for 6 bars (84 days) (approximate values).

If we trace the Elliot waves, we can identify that we are on wave 5.
If the bull cycle takes place at the same periodicity, we can assume that the price will reach U$ 496 at the end of November.
And a possible corrective wave ABC could form by the end of February.
Comments
trytofeelpositive
share my idea with u
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