My main scenario is that the correction that started in the end of February is not over yet. See related ideas for initial views on the correction, which have played very nicely.
Right now I´m expecting a 3-3-5 as a flat correction (which would give us first target for wave C @ 77.00). Waves A and B (light blue) have already made 3 sub-waves each, and we are looking at bearish RSI divergence on a major resistance.
I will enter SHORT trades if we see bearish price action, ideally breaking down from recent minor support (blue) or from the channel´s bottom trendline.
Right now I´m expecting a 3-3-5 as a flat correction (which would give us first target for wave C @ 77.00). Waves A and B (light blue) have already made 3 sub-waves each, and we are looking at bearish RSI divergence on a major resistance.
I will enter SHORT trades if we see bearish price action, ideally breaking down from recent minor support (blue) or from the channel´s bottom trendline.
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📈 Experienced Crypto trader
👍 Simple, actionable content
🌊 Elliott Wave junkie
🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
linktr.ee/stoic.trader
👍 Simple, actionable content
🌊 Elliott Wave junkie
🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
linktr.ee/stoic.trader
Related publications
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.