egld | elliott wave | this is an update on the daily i did 3 days ago . on this 2h timeframe u have the targetsin the chart .
EGLDUSDT trade ideas
#EGLD SHORT 🔴 LONG🟢#EGLD/USDT 🔴 SHORT ⚠️ HighRisk
Entry : 50.90 - 51.85
Take-Profit : 50.10 - 49.40 - 48.75 - 48.10 - 47.45 - 46.75 - 45.85
SL: 52.65 4h CC
#EGLD/USDT 🟢 LONG ⚠️ HighRisk
Entry Targets: 47.55
Take-Profit : 49.87 - 50.15 - 50.155 - 50.450 - 50.700 - 51.000 - 51.400 - 51.900 - 52.500 - 53.100
SL: 46.000 4h CC
Elrond long trade 2nd and 3th position take profits not set yet
first position 20% of the capital
second position 40%
third position 40%
EGLD could visit $70EGLD has been in a downtrend from a price value of $213. After a long downtrend, the trendline has recently been broken and I expect some reaction to this. I expect a minimal pump towards $70.
I know the crypto space is currently in a bear market, but this is purely a price speculation on the broken trendline after which some pump is quite plausible. I long EGLD here, but also buy a small bag for the long term since EGLD is fundamentally a strong cryptocurrency. DCA is the play for me here.
EGLDUSDT is testing the 4h supportThe price created a W pattern and now the price is testing the neckline as new support on 57$.
the price got a clear rejection from 63$ area where the market created a 4h resistance.
How to approach it?
IF the price is going to lose the support and retest it as new resistance, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
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Follow the Shrimp 🦐
EGLD following trendsEGLD faithfully follows trend lines.
That combined with a strong resistance could lead to a nice short.😉
Egld As we now have slowed our drop here this is where things get interesting. If we can see EGLd holding this low roughly 52.17-52.50 area, if we can see support hold we could be creating a large rising wedge. If this stands true, then we can expect to chop within this wedge up to retesting previous drop area. This can target us close to 75$. Howver if we break support here and fail and contiue down we would expect price to retest previous lows or make a new low. I am still long and starting to add some further to my original 44$ $ add zone. I will be watching this level in the lower 52$ range to make sure we are going to hold but if this plays out it could be a great buy zone for the next few weeks depending how long this takes
This means I will be short term bullish as we find if we can control this low. If it breaks this idea may be invalid
egld | elliott wave | price action analyse Possible road map with possible target for elrond . here you have the "map" of how price can move in the coming weeks . Updates will come frequently on my social and tradingview
egld | ew | short term If u wanna trade this , watch for reaction at 52$ , for a pump to 58 $ , and get out after cuz another dump will come . Trade safe , allways put stops at the wick of the candle where u see the reaction at the given target , that way u minimise lose a lot . Longer term im bearish and we can see egld below 30$ a future update will come along with btc . Allways wait for the reaction and OCO with stop at 52 for example depends where the reaction happened and limit lets say 57 $ .
Another good way to enter is to wait to have the A the B than we will have a more accurate C for a better entry
EGLD/USDT Elliott Wave CountEgold verry probably to bounce for an x wave and than to go up
We have an W wave expended flat corrective pattern and now an X wave also expanded flat corrective pattern.
Triangle in 4th wave from the c wave from X wave.
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Short for a 5th wave and than long. Until next update short for the 5th wave!!
Thank you and goo luck!
Egld This could be flipping bearish on us further as I said 57 was key support we lost that area. We did rally higher then expected on the retrace but 58,90 was rejected. We found support at 54.90 so watching that to break to confirm more down side. If we control that we could double bottom but with Btc king what it is doing I don’t expect it. Next support for me is 51 or 52
EGLD - Supporting areaEGLD is in the supporting area , between the fibo lines ( Fibo Fan & Fibo Retracement ) Keep in mind the BTC chart , in good condition , EGLD can go up to next yellow box .
egld | ew | alternate Another scenario for elrond , both of them are corective structures and we can have another low after they finish
Egld | ew | potential movementA potential price movement for ellrond , watch the 53$ price for a reaction , we can have another leg up to arround 67$ .
EGLD/USDT Elliott Wave CountEgold can go up correctivly
After finishing an expended flat correction now
I think we are into an x wave that is also a complex correction.
It can go down one more leg to test the bottom of the channel
I remain bearish on egold
Egld Failing to hold above 64 area and seems to have rejected. Main support is 57. We could end up ranged on top of that W pattern with the. Neckline 57 but if we lose 57 and flip to reistance the bearish trend can contiue. We still haven’t made a new higher high yet so this is still in a downtrend even with most recent bullish prices
EGLD/USDT Elliott Wave CountI think that 4th wave is complete for Egold
I will present you the count of this 4th wave that started from 13 june 2022 and I think this is the best interpretion for now!
4th wave pattern is an expanded flat correction composed from:
Wave A: an expanded flat
Wave B: another expanded flat
Wave C: Impulse 12345 with a truncated 5th wave, verry important thing because is show us that the price is under the sales presure for starting the 5th wave down.
So, I expect massive price drops with an impulse to complete a 5th wave of a bigger impulse to the downside.
I will update this count so if you like it subscribe and press thumb up!
Egld Let’s see a nice 4 hour candle body closing above 64-64.30. Support at 60.55 is holding up which was breakout of previous consildation on top of W reversal pattern. Breakout of downtrendinf resiatnce. This is looking to be setting up for a monster move. If bull pennant is forming here we are targeting upwards of 75-80$ to start.
EGLD/USDT HELLO GUYS THIS MY IDEA ABOUT EGLD Usdt is nice to see strong volume area....
Where is lot of contract accumulated...
I thing that the buyers from this area will be defend this SHORT position...
and when the price come back to this area, strong SELLER will be push Up the market again...
DOWNTREND + Support from the past + Strong volume area is my mainly reason for this Long trade....
THANKS
REBENGA TURTLE TRADER
egld | ew | price targets 2 targets for egld at 66.5 and 71. a wxy and abc corection on most alts , doing what btc is doing
Egld After confirming the W-neckline as new support EGLD has now broken out of the consolidation it’s it’s been in with this potential symmetrical triangle or bullpennant it that we have now formed on top of the neck line. This is looking extremely bullish from a daily perspective and I am targeting upwards of $75 to retest some previous support. Holding above 60.30 It’s going to be an extremely bullish sign and I am Wong from $45 and I ended up adding just about a half an hour ago in the $59,40 range and may add on a following pull back to potentially retest this pattern breakout. As long as we continue holding above $57 EGLD is primed to succeed
