A nice gartly pattern is forming. wait for the .786 or the .886 retracement on point D before placing longs. SL below X. TP on the .382 and the .618
Hello there, everyday i look in the chat and i see people making trades based on fomo, chasing price and news and i wanted to bring to life a few steps that i have in place before making a trade. I hope this is helpful! best of luck!
Over the last few weeks of china banning icos and btc exchanges and good old jamie dimon shitting on btc the overall market sentiment has been bearish playing into elliot wave theory as we abc down on wave 4. AS of the 9/22 wave three has started in my opinion and we have rushed forward without much resistance. Being the 3rd wave it is met with lots of price...
Wave C tends to break the illusions of Wave A and Wave B. In a declining market, it can be devastating and fear takes over with broad participation. An advancing Wave C as an upward correction in a larger bear market can be just as dynamic and it fools investors into thinking that it is the start of a new upswing. The fact that Wave C may do this in five sub-waves...
After a beautiful abc correction run up we have failed to push 3977 which fits into elliot wave rules of correction wave 2 as it cannot retrace all of wave 1. We are now beginning wave 3 in the down trend cycle will keep you all posted.
spent 2 hours doing a rough 1 hour TA using elliot wave theory, already had the a,b,c correction wave