Advin

Ethereum ETHUSD ETH Elliot Wave Count - Further correction?

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
So here is my EW count for ETHUSD             . This appears to me as the corrective 4th wave. ABC correction could be coming to an end. If this is the 4th wave of this cycle then it could be a short correction like we are seeing because according to this count wave 2 was a long correction so wave 4 should be shorter. The weekend should be interesting. ETH did a double bottom at the $770 level, that is the strongest support we've had, if ETH breaks down towards that zone again it could finally break through the support which would have us looking at $720 to $550 zone.


Disclaimer - I'm a novice trader learning technical analysis , please don't take this as investment advice. If you have any critiques or anything to add please feel free to comment below. Thanks for viewing.
isnt there a rule that wave 3 is the longest?
Reply
Advin tenzor7
@tenzor7 Wave 3 can never be the shortest of the three impulse waves. From my knowledge wave 3 is the longest when wave 1 and 5 are shorter and similar in impulse strenght.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out