Long

My view on EGLD

Updated

just got out of a long Elliot Wave cycle, and is now starting to form another one.
With Waves 1 and 2 now formed, we can try and predict where and when Wave 3 will extend.
I think Wave 3 will extend at the 1.618 Fib Extension since there is a big OB at the same level. The price might face a some resistance at $65, and that is why I expect Wave 3 to end around the 2.618 Time Zone.

This is just my view and it does not represent a financial advice.

Best of luck to everyone for 2024.

Note

Wave 3 completed.

NOW:

I know that the Elliot Wave setup is now invalid because Wave 4 retraced in Wave's 1 zone. HOWEVER, on EGLD this has happened before and it was just a liquidity sweep. I will monitor the chart closely these days and I will keep everyone updated.

RazvannCT

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