Solana continues to develop within a larger wave 3 impulse.
The recent pullback is forming subwave (2) of wave 3, unfolding as an ABC correction. Price is currently working through this corrective phase, with a final move lower into the buy zone expected to complete subwave (2).
That area aligns with Fibonacci support and key levels, where we will be watching closely for signs of reversal.
At this stage:
- Wave 3 is in progress with subwave (2) forming a correction
- The corrective move is developing as an ABC
- Price is expected to complete one final push lower into the buy zone
Plan
- Monitor the development of the current correction
- Watch for price to reach the buy zone
- Look for reversal confirmation before positioning for subwave (3) of wave 3
- entry confirmation on trendline break once in buy zone
The completion of subwave (2) sets the stage for subwave (3) of wave 3 — typically the most impulsive and extended move within an Elliott Wave sequence.
Goodluck and as always, trade safe!
The recent pullback is forming subwave (2) of wave 3, unfolding as an ABC correction. Price is currently working through this corrective phase, with a final move lower into the buy zone expected to complete subwave (2).
That area aligns with Fibonacci support and key levels, where we will be watching closely for signs of reversal.
At this stage:
- Wave 3 is in progress with subwave (2) forming a correction
- The corrective move is developing as an ABC
- Price is expected to complete one final push lower into the buy zone
Plan
- Monitor the development of the current correction
- Watch for price to reach the buy zone
- Look for reversal confirmation before positioning for subwave (3) of wave 3
- entry confirmation on trendline break once in buy zone
The completion of subwave (2) sets the stage for subwave (3) of wave 3 — typically the most impulsive and extended move within an Elliott Wave sequence.
Goodluck and as always, trade safe!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
