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heshamahli
Oct 16, 2021 7:49 PM

STMXUSD Elliott wave projection Long

Description

Analysis based on Elliott wave projection
Exit gradually at each black line and all at the last one
Comments
seriousStar57371
Nice chart, but I'm counting your 3 wave structure as a completed 5 wave. By zooming in a little bit and with how cryptos like to go beyond the typical 5th wave extensions of wave5=wave1, I believe your wave 3 happened back in Feb this year. Based off of probabilities and typical pattern behavior, we've seen a pretty big cut since April. More often than not from my experience you'll see wave 4 retrace to the .236 or .382 retracements of wave 3. Also, per alternation that says 2 and 4 are different in structure, your 2 and 4 are similar animals to my eyes, so that also leads me to believe your wave 3 is 5, wave 2 just happened, now starting up for a new/bigger impulse. Your chart is definitely plausible for sure and will be watching that.
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