1 minute ago
I have said for many months the Solana pattern is a mess. This consolidation towards the lows may only be a "b" wave if minor sub wave ii (Displayed in purple). I'm not a fan of purple and that's why its my alternative count. The time for minor sub wave i and ii is longer than the primary waves 1-2. But timeframe is something that Elliott never elaborated on. So purple can definitely play out.
When I'm unsure of where we are I don't trade. That is why I stated I would rather wait for a breach of $30 and see how price reacts. We're close to a bottoming zone so it may not make sense to try to trade these final machinations. If we get above $37-$38 then shorting starts to look reasonable. As of right now, Solana has refused to reveal it's intentions. Therefore I'm not interested in risking hard earned capital.
We need more clues.
Best to all,
Chris
I have said for many months the Solana pattern is a mess. This consolidation towards the lows may only be a "b" wave if minor sub wave ii (Displayed in purple). I'm not a fan of purple and that's why its my alternative count. The time for minor sub wave i and ii is longer than the primary waves 1-2. But timeframe is something that Elliott never elaborated on. So purple can definitely play out.
When I'm unsure of where we are I don't trade. That is why I stated I would rather wait for a breach of $30 and see how price reacts. We're close to a bottoming zone so it may not make sense to try to trade these final machinations. If we get above $37-$38 then shorting starts to look reasonable. As of right now, Solana has refused to reveal it's intentions. Therefore I'm not interested in risking hard earned capital.
We need more clues.
Best to all,
Chris
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