On the higher timeframe, we appear to be in an ending diagonal. We caught both waves 2 and waves 3 at the very start, resulting in MASSIVE gains both short and long.
We are now in the mid section of wave 4. We could go on to create a complex ABC wave for subwave B before moving lower so keep that in mind if trading.
Trade Idea: - Watch for lower timeframe trendline break or BOS to indicate signs of reversal - Enter with stops above the current highs - Target: 1975 (700pips), 1920 (1500pips)
Bare in mind that after hitting 1975, we could possibly make an ABC correction as indicated on the chart.
Dear friend, Elliot wave pattern and its rules, wave 3 is not the shortest wave, I think there is a mistake and we are currently in wave 3 out of 3 out of 5, and the price can reach up to Fibo 1.167, which includes about 2300 numbers, good luck
Right 100% we are in the third wave and we are going further up
Leftrin
⋅
I always thought wave 3 should be the longest wave out of 1,3,5 unless wave 5 is an extended one. Either way, wave 3 should be longer than 1. Could we also have a retest (and form a double top) of the c high before we re- enter the 1900’s? Thanks and a merry Christmas!
@Leftrin, common mistake to make is think wave 3 has to be the longest. The rule is actually wave 3 cannot be the shortest. Therefore wave 5 will be shorter than wave 3
DMartin-
⋅
@WicktatorFX I sent you a message, I hope you have time to see it. hope all good
CryptoJek23
⋅
Wicktator, DXY please🙏
AGCL
⋅
MyCryptoParadise_Nathan
⋅
Post-1975, an ABC correction is possible as indicated on the chart.