Elrond buying targets 145.39$ EGOLD

Updated

Hi guys,
here are some possible entry targets to watch on this wave 4 if 185.84$ was the top of retracement of W4 of A.

0.618 = 166$
1 = 153.5$
1.236 = 146$
1.618 = 133$

If the W4 of A change and go over 185.84 ii will post update here.
Thanks for your support!
Have a great day !

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You have to understand that this wave 4 can make a big ABC, and that we are in the big A. The B should take us back to the top at around $205... but the big C could spank. From what I see the main wave 2 was strong so I would be very surprised if the big C retraces under $128.5... if EGLD breaks the limit next catch up would be $98. I expect Elrond's big C to be in sync with the retracement of W4 of the Bitcoin next drop to aroud 35k.

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If some of you had already some EGLD stacked i suggest that you hold cos this A can stop at 165$ or 153$ and a great place to unstack would be on the top of the B around 200$ or 205$. After that it's possible that EGLD make a plunge with the Bitcoin... I expect the stock market to retrace too.. and USD should break out of his falling wedge

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Also please note that EGOLD use to be very strong when BTC retrace.. The reason for that is that a big portion of the supply has been stacked. Currently more than One third of the supply is stacked. My recommandation would be to accumulate every drop and hold for the long term.

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A nice Zoom in

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Good entry possible around 165$ and 132$

Trade active

to fix probabilites i need to know the bottom of the C. For now if it continue to go higher and the bottom of A was 160$ most common targets for a B wave are usually 38.2% or 61.8% but a B can reach sometimes 76.4% and 85.4% at a maximum... which give me for now (most probable) 181.65$ and 195.035$. If we reach higher, 204$ and 208$. Keep in mind those targets are good only if EGLD doesnt go lower in the (A wave) lower than 160$..

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please note that A and C are usually the same lenght

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It is very possible that this W4 is a flat which will confirm me that this correction is over. That is a possibility to consider.

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in a Flat scenario we would already be in the first wave of 5 new impulsive wave inside the main Wave 5

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Cos the B had reached over 90% fib i would highly consider this as a REGULAR FLAT scenario but usually C wave of Flat correction reach 123% and we reached 161.8%... this is why the Zig Zag scenario is still open..

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Possible H & S forming

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target 103$

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If i take the bottom of the head 129.19$ would be another target.. Maybe more realistic for now

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Watch this double Gold Line..if we lose this support .. good chance we go down to 130$. But Bulls are still in control on the Daily for now.

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Current Candle Close is in 2 hours 42 minutes. I will give an update tonight.. we need to wait for this daily candle to close. $ hours can is looking good right now, but will also close in 3 hours 42 minutes

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Get a lot of questions about this.. cos people are looking to get notify when i post something. Just do this Go to /PROFILE SETTING/ Under Settings you will see / Notifications / and /Authors you Follow/ and you can pick many options upthere... email when they publish a new idea, when they update their status etc...

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also pick under IDEAS YOU FOLLOW the option(s) you want !

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Possible trap here with this current bear flag, let's see if they will push this higher,

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4H MA21 on resistance at 178$.. let's see if they will break through

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If we want to go higher we need to confirm this Neckline like a support

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possible Rising Channel to come

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new highs and new low are higher... but still in a rising wedge

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Bull flag

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EGLD has formed 2 options, 1 Rising Channel and 1 Falling channel. Will be a compression at the intersection, it can go up or down. tradingview.com/chart/oMVpGznv/

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Possible small Wave 2 targets

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Shooting Star on the Weekly.. bearish Candle.. must watch for confirmations on the down side.

Crypto_Mercy

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