About meAnother human being passionate about trading and analysing the charts.
Elliott wave theory is the main tool and I like to mix it up with other TA´s. Trading mostly crypto now.
I wanted to share my thoughts on the significance of using channeling technique in Elliott Wave theory when analyzing charts.
To begin, we draw what we call a "base channel," starting from the beginning of wave 1 and extending it to the end of wave 2. This initial channel provides us with a foundation for analysis.
The following occurrence of an impulsive...
The rally in Render appears to be reaching its conclusion. Over the past few months, Render has been an intriguing trading token, outperforming BTC by surging from 0.9 to its monthly resistance level of 2.93 (Bybit).
Based on my wave count analysis, it seems that we are approaching the end of the rally at this resistance point. I observe a potential ending...
AVAX/USDT.P on BYBIT
Looks like the W-X-Y pattern is coming to an end and we will try to predict the bottom as best we can to catch a swing trade of wave C or even a 3 and a new rally.
If the count is right and the weekly support level at 13.910 does not hold, a one to one (of the W-X-Y) price target will be next. We could speculate the weekly level then will...
Possible setup:
Wave 4 is unveiling it self as a triangle for an upside to complete wave 5. A key level on 0.3482 (Wave C of triangle) and a Wave 5 target on 0.8389 gives this setup a good risk to reward ratio.
The triangle thrust could reach the 0.6549 key level and would be a nice place to take profit and move the stop loss up. If the key level is taken out...
