I'm setting up a short trade on TONUSDT based on a 15-minute chart using Elliott Wave analysis. The chart shows the completion of wave (5) and the beginning of a corrective wave (a).
My entry point is around the current price of 5.482.
I'm targeting the following levels for the corrective wave (c):
- 1 at 5.323
- 1.618 at 5.217
I'll place my stop loss slightly above the recent high to manage risk. As the price approaches the target levels, I'll adjust my stop loss to secure profits. This setup aims to take advantage of the anticipated downward movement in the Elliott Wave sequence.
My entry point is around the current price of 5.482.
I'm targeting the following levels for the corrective wave (c):
- 1 at 5.323
- 1.618 at 5.217
I'll place my stop loss slightly above the recent high to manage risk. As the price approaches the target levels, I'll adjust my stop loss to secure profits. This setup aims to take advantage of the anticipated downward movement in the Elliott Wave sequence.
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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.