5-WAVE
CTSI power wave incomingAll across the crypto space, we have been grappling with an EWT wave 4 consolidation since the summer time. It has provided fantastic entries for those late to the game. I am of a firm belief that this window is now shut, and the final W5 to finish this cycle is beginning.
If I were taking a guess at the ST trade, I think we mirror the last 15 day cycle based on daily RSI, and spike out today and tomorrow. the last spike, to me, represented the W1-W2 signal that consolidation was over. This is the beginning W3 impulse of the 5-wave move upward.
W3 is the most powerful wave, as the disbelief of W2 has been shaken and now is time for broad participation.
What is super encouraging to me is the fact that the broad market selloff did relatively no damage to this chart.
Volatility is expected with some spike trading opps for sure, but it should be a really solid hold from here into Q2 2022.
Good luck!
(my personal trading with this was to sell 50% on the last spike, and reposition at the 1.00 psychological level. I re-employed the profits at 0.97 and will not sell again unless the spikes are obviously going to retrace. Retracement will become less likely with added participation)
US30 SHORT IDEA #COMPLETED ONE WAVE.As I Mentioned in my previous idea of US30. Dow Jones Reached to the safe close level and reversed back and might fall again after getting resistance from the drawn level. It might goes till 4th wave and may reverse back and make ABC pattern of Elliot wave. after making B, I will post idea here for trade, till C point
USD/CAD - EWTUSD/CAD - Price may enter a correction soon. Waiting for confirmation to see if Wave 5 actually ended or if it will extend more.
If the price starts to retrace more, then it can touch the areas marked on the chart, otherwise, it can still continue on the upside for a short while.
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Happy trading! :)
US30 SHORTUS30 Short Trade and Safe close Is discussed in this image. this is just an idea you can also make your own analysis.