My plan on ALPH for the upcoming days
Updated
Hi everyone. This is what my view on ALPH looks like for the next week.
As you can see there are 3 possible Elliot Wave scenarios:
- 1st scenario consists of the Waves 1 to 5 drawn PINK and Waves A to C drawn with ORANGE:
in this scenario we can see that Wave B created 2 possible scenarios:
*A Running Flat, in which case Wave C will fail to retrace beyond the end of Wave A;
or
*A Expanded Flat, in which case Wave C will retrace beyond the end of Wave A.
- 2nd scenario is the onw drawn with light blue in which I can not give information at this moment, but I will provide more tomorrow.
- 3rd scenario is the one drawn with dark green. We have to keep in mind that this scenario is relying on price not falling under the 2.23 level since Wave 4 is not allowed to retrace bellow Wave 1. If this happens, I expect Wave 5 to extend all the way to the 1.618 extension mark.
If this does not happen, then we can carefully trade the 1st scenario described above.
As you know, Elliot Waves are very interpretable and you need to trade them with care.
Wish you all a profitable week!
As you can see there are 3 possible Elliot Wave scenarios:
- 1st scenario consists of the Waves 1 to 5 drawn PINK and Waves A to C drawn with ORANGE:
in this scenario we can see that Wave B created 2 possible scenarios:
*A Running Flat, in which case Wave C will fail to retrace beyond the end of Wave A;
or
*A Expanded Flat, in which case Wave C will retrace beyond the end of Wave A.
- 2nd scenario is the onw drawn with light blue in which I can not give information at this moment, but I will provide more tomorrow.
- 3rd scenario is the one drawn with dark green. We have to keep in mind that this scenario is relying on price not falling under the 2.23 level since Wave 4 is not allowed to retrace bellow Wave 1. If this happens, I expect Wave 5 to extend all the way to the 1.618 extension mark.
If this does not happen, then we can carefully trade the 1st scenario described above.
As you know, Elliot Waves are very interpretable and you need to trade them with care.
Wish you all a profitable week!
Note
Hi traders!The target zone for the 4th Wave has been reached.
If the price can hold that range, I expect a breakout on the lower time frame to occur tomorrow at around 14:00 UTC+2 , in which case I will keep you updated with the plan for Wave 5.
Note
Hello everyone!Since price crossed the 2.23$ level that means Wave 4 entered Wave 1's zone and so one of the main rules in Elliot Wave theory was broken, even though it didn't close bellow that level (yet). This means that the 3rd scenario is not to be considered. However, I will monitor the chart on the lower timeframe, because I think that it was just a liquidity sweep.
Trade closed: target reached
Wave 5 completed, and that is a 62% increase in price since Wave 4. Congratulations to those who executed any trades. Stay tuned for new idea on ALPH.
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