So this is a GREAT setup with very good R/R.
We have had a very, very long third wave coming down, and we might have formed wave 4 entirely. If this is correct, then we'll see an impulsive wave towards the level i have drawn on the chart. That is a VERY strong level, and i will close entire position if we reach that level. Fundamentals are still aligned in my...
So this one is very messy at the moment.
I'm not trading this pair right now.
I'f we're following the rules of Elliot wave, we should see a leg going higher to make the last wave. There is also a chance that we already have had the 5th wave, but then the overlapping of the bottom of 4 and 1 must be accepted, and this is rare with EW.
Here we go again.
So the last count was wrong. But we knew the risk and had a short stop loss as i wrote in the description. This count looks even better as the top from leg 4 is just below the bottom of leg 1. We could see a good long move down to the green zone, but as we know crypto can be hard to predict as it's a very premature market, and we should always...
Hight probability trade. Following overall bias.
Just a quick update on the already posted trade. I will do trades like this in the future as well :-)
I just wanted to clarify the potential levels we could see in the coming days.