3:1 Risk/Reward Setup on Etherum

Guys, ETH rallied in 5 waves into its January high. It struggled seriously to rally with BTC together lately, showing relative weakness. The pattern has the characteristics of a fading 3-waves correction from the February lows. This makes the entire structure probably an extending leading diagonal, which is similar to BTC. Elliott's rules for this pattern calls for a longer wave 5 than wave 3. This impiles a target around or below $400 short-term.
Setup:
S/L 895
T 410

Comment:

Guys,

this is an ugly mofo... the structure is still incomplete as of March 18th, 19:40 UTC. Still looking for lower lows.

Really hope we could raise your awareness of the risk involved here if u did not go for this trade...

Best, SI

Trade closed: target reached:

Yesssss Baby! Target reached for a magnificent profit.

Closing all crypto shorts right now.

Comment:

+47%
That's why trading is the best job in the galaxy!