IgorFlow

Elliott wave analysis of EOS/USD.

BITFINEX:EOSUSD   EOS / Dollar
I continue to mark initials up as a main count. But the chances of implementing the forecast from last month have fallen dramatically. The market went into too deep correction relative to the wave , which is not typical for the waves. In addition, the downward movement from $8.6 has become easy to decompose into impulse.

Therefore, here it is necessary to wait for the completion of the formation in the form of a double zigzag in the wave , then wait for the breakdown of the green channel up and only then proceed with small purchases. By the way, it is forbidden for the double zigzag to break through the red lower level, so you can try to put a small order on the red fib with a stop at 1.66. Maybe this option will work.

But in general, I recommend waiting for the invalidation of the potential downward impulse first. And only then make a decision. This is my strategy :o)
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