ARKUSD $3.27 SHORT TERM? Elliot Wave Analysis
Updated
Consolidation inside of a pennant pattern showing break out with a continuation of the previous bullish trend from before consolidation. Bullish RSI divergence, as well as a bullish MACD divergence on 3h/4h candles. Please note the text boxes - the wave 4-5 target are only if the wave 3 stops at 1:1 Fibonacci extension (which I marked as the sell zone for wave 3).
Note
Quick note - leg 4/5 is if wave 3 peaks at 1:1 Fibonacci extension of wave 1-2 if it goes past to 1.618 then the 4/5 analysis is null. Meant to say that in the text bubblesNote
New leg 5 PT: 3.37-3.39Trade closed: target reached
Succesful trade :)
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.