Chart can easily be determined in elliott waves.
You can see an impulsive wave which i declared as wave 1.
Afterwards it corrects with an wave 2 (abc-correction).
Now wave 3 started and already made the first and second wave.
I do now expect the start of wave 3 within the wave 3 which can be a very impulsive one.
There are 2 order blocks below our price now. -> demand zones
ENTRIES are shown on the graph.
I will place a buy limit order on the second entry with 1% risk.
SL is set according to elliott wave rules: Wave 2 cannot go beyond wave 1.
I determined TP at supply zone because it usually bounces of supply goes back to demand (will make another analysis if i´m right) and then break trough.
Let me know your view in the comments.
If you agree with my analysis please give me like.
Join our community. Link in bio.
You can see an impulsive wave which i declared as wave 1.
Afterwards it corrects with an wave 2 (abc-correction).
Now wave 3 started and already made the first and second wave.
I do now expect the start of wave 3 within the wave 3 which can be a very impulsive one.
There are 2 order blocks below our price now. -> demand zones
ENTRIES are shown on the graph.
I will place a buy limit order on the second entry with 1% risk.
SL is set according to elliott wave rules: Wave 2 cannot go beyond wave 1.
I determined TP at supply zone because it usually bounces of supply goes back to demand (will make another analysis if i´m right) and then break trough.
Let me know your view in the comments.
If you agree with my analysis please give me like.
Join our community. Link in bio.
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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.
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.