On the long timeline TQQQ is in a wave 5 up, and could have another 2 months upward.
We're roughly 49 days into a 120 day period.
Wave lengths aren't constant but do seem to run 3-4 months up, then 2-3 months correcting, before ultimately heading upward again.
With a 50.8% Average Return Rate over the past 10 years even with the pandemic mess. I'm long TQQQ.
wave 4 over - motive wave down in 5 waves should follow to wave 5
motive wave ((1)) ended at 28800 area
corrective wave ((2)) unfolding in a zigzag - target 36630/38730 area
ALT: wave 4 is not over
monitoring price evolution
critical price area
previus daily close 33509
PP 32570 up
trend up in minute wave ((V))
running subminuette i of minuette (iii) of minute ((V))
subminuette i not over yet – micro wave ((5)) unfolding
ALT: subminuette i is over – wave ii should follow in three waves
critical price area
previus daily close 70.01
PP 69.50 DW
FIB: 69.78 – 69.28 - 68.92
static S/R : 69.92
long term wave 5 of intermediete (C) - target critical static resistence 77.11
if wave (i) of ((iii)) is over
then wave (ii) of (iii) should follow in corrective mode - three wave - probably zigzag - target 64.58
critical support - wave iv: 67.41
FIBRET wave (ii) : 64.58
If you have not been paying attention, get ready for some real volatility and big rotations/reversions in the markets.
It is time to put on your BIG BOY/GIRL pants because the markets just exited a simple upside trend bias and entered CHAOS with a new downtrend setting up.
If you don't know what to do, then you better start paying attention. This downtrend...
In h1 timeframe, it seems wave C after an ending diagonal 5 waves finished.
but I have to wait for final signs.
I think break out the price of last top that shown on chart with green line is a good sign to shown that wave C is finished.
and it can be a good trigger for a long position.
the red line can be a good stop loss if my analysis will not be correct.
Thank you again for considering reading my idea. Just a disclaimer that I'm not an expert on Elliot Wave Theory but here's what I have in mind.
Let's see the first 4 waves:
Wave I - Initial impulse from March 2020 to May 2020 (161%)
Wave II - Sideways movement from May 2020 to September 2020
Wave III - Huge impulse from September 2020 to April 2021...
subminuette wave v closed
we are running minuette wave (iii) of minute ((c))
critical price area 1.2100 (PP - fib 0.382) - 1.2118 (fib 0,618) - 1.2068 daily close
ALT: subminuette iii of minuette (c)
daily volatility range 1.2033 - 1.2120
wave iv ended in ((a))((b))((c)) flat - balanced in time and size
wave v unfolding
violation of 1,2125/30 area and/or time delays in developing
would invalidate the idea
ALT: reconsider the abc hypothesis
I hope that you could take profit from this market that you are seeing now :) .
I want to publish an idea bout Filecoin today.
Location: Probably we are on the start way of the Main wave 5 , We have to try to find the End of Main wave 5.
The End of it can be around our clusters that you are seeing on FILUSDT Chart , even I tried to find TRZ (Time...