modum elliot wave analysis of NEW TREND
Updated
since a lower low was formed it confirms a new trend
wave 1 done.
wave 2 done : hit the 50 percent retrace
wave 3 : expected atleast 1:1 target: 3523 safe target
= 1.618 target: 4201 (catalyst needed) risky
wave 4 : if it retraces more than 3000 level : wave 5 failed
= if it retraces less entry around 3050-3150
wave 5 : exit 1 : if wave 3 hit 1:1 target: 4201
exit 2 : if wave 3 hit 1.618 target: 5299
i will be doing the safer trade as we are still confirming BTC uptrend.
my best analysis so far
thank you :D
wave 1 done.
wave 2 done : hit the 50 percent retrace
wave 3 : expected atleast 1:1 target: 3523 safe target
= 1.618 target: 4201 (catalyst needed) risky
wave 4 : if it retraces more than 3000 level : wave 5 failed
= if it retraces less entry around 3050-3150
wave 5 : exit 1 : if wave 3 hit 1:1 target: 4201
exit 2 : if wave 3 hit 1.618 target: 5299
i will be doing the safer trade as we are still confirming BTC uptrend.
my best analysis so far
thank you :D
Note
also i forgot to mention entry for wave 3 .. it should be done on confirmed wave 3 breakout.because BTC is facing major resistance so its better to be extra careful
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