Elliot analysis on ADAUSDT
This does not violate any principe of Elliot wave.
1. 2nd wave cannot exceed 1st wave
2. 4th wave cannot overlap 1st wave
3. only one extended wave in an impulse wave
4. 4th wave and 2nd wave altenatives
5. 3rd wave cannot be shortest in an impulse wave
According to this, I see that ADA already finished its the first wave of a Cycle and we are in correction 'B' wave
Since 'A' wave doesn't seem to be as an impulse, the correction pattern could be 3-3-5 flat correction or 3-3-5 irregular correction.
It will be shown when where 'B' wave is fnished.
Therefore, I will long here to the top of previous wave.
and then it will crash again and down to the bottom of prmiary 4th wave if Elliot theory works.
1. 2nd wave cannot exceed 1st wave
2. 4th wave cannot overlap 1st wave
3. only one extended wave in an impulse wave
4. 4th wave and 2nd wave altenatives
5. 3rd wave cannot be shortest in an impulse wave
According to this, I see that ADA already finished its the first wave of a Cycle and we are in correction 'B' wave
Since 'A' wave doesn't seem to be as an impulse, the correction pattern could be 3-3-5 flat correction or 3-3-5 irregular correction.
It will be shown when where 'B' wave is fnished.
Therefore, I will long here to the top of previous wave.
and then it will crash again and down to the bottom of prmiary 4th wave if Elliot theory works.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.