ETH/USD

Updated

Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.

Chart is on the weekly

RR.13.3

Possible upside: 800%

Possible downside: 50%

3 green line is the accumulation zone.
We resume an uptrend when we break above the top green line.

Trade active

Update: Support & Resistance levels added

Note

Timeframe changed to 4h.

If the blue wave have started then we would see a sub wave cycle like this pink one.

A break above the blue line will confirm blue wave's trend.

If not we have a possible rejection to the 500 area, that should be the bottom.

Note

Why you should get in now even if there's a possibility of a drop.

Getting in now you have a possible gain of 550%

If it goes lower you have a possible gain of 1350%

Buying now and laddering down (DCA) you will have both. 1900% gains to be made.

Now if we don't go down, you just missed 550% worth of gains.

Note

Update: On the chart above that's on the 4h timeframe, I can't find it anymore.

The wavecount I had for it is around 1550. We've already gone past that. We peaked at 1660 and retraced to around 1350. We are moving way faster than I am predicting for eth.

On the below chart it's on the daily

These are on different timeframes so they will look very different.

Trade active

So far so good.

I've added sub waves to the chart below.

We're still waiting to hit 2100ish before going down to 1800ish I believe.

We should get a pull back after the 5th wave top at around 2400-2500

Note

Update: I've added some support & resistance lines (yellow)

We are hanging right above the support line for this rising wedge, we should bounce from here if the wave count from above wants to play out

We still haven't touched the 200 MA yet, I think we will touch it soon and get a rejection. A rejection from here would take us out from this rising wedge. After we will retest the 100 and 50 MA before going back up again.

Note

These support & resistance lines that I've added are based on the wave counts I've done above

On the charts below I'm going to check to see if these same support & resistance lines were also used prior to me adding them to see how accurate they are

So I'm going to look at the previous times eth has been around the price range of 900-2500

Look at the dates and they're surprisingly accurate.

Trade active

We went a bit lower than expected, hopefully we don't go lower.

Wave 2 retracement took 17 days, wave 4 retracement is usually twice as fast, but bigger loss

wave 2: 17 days -19%

Wave 4: 6 days - 25%

We might get -30%, but we're close to the bottom of it.

These 2 would be consider a pullback and they're healthy for an uptrend, we don't just want constant up with no pullbacks.
Our wave 5 top should be around 2200-2500

Afterwards we will get a correction of at least 42%

Trade closed: target reached

I am closing this chart to make an update on a new one.

If you press play we have wave 1 and wave 2 in.
My wave 1 target was 2100-2400. We ended up being a bit shorter than that at 2k.

My wave 2 retracement target was around 1200-1400 that being our top at 2.4k.
Since we did not go that high, we should expect wave 2 retracement to go lower than 1200-1400. Wave 2 ended around 1k. 2k to 1k is -50%. 2.4k to 1.2k is -50%, see what I mean?. Okay, im closing this chart. Check new one for updates.

AyoKu

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