Wave 3 is coming. I'm learning to use the elliot waves but yea 3rd wave. * Wave 2: Common retracement levels * 61.8%-78.6% of wave 1 (golden zone, most common) * May also be 23.6%, 38.2%, or 50% * Wave 3: Common extension levels * 161.8% extension of wave 1 (most common) * May also be 127.2%, 200%, 261.8%, 361.8% * Wave 4: Common retracement...
I improved the older elliot waves analysis a bit. I'm still learning tho. Wave 5: Common extension levels 50%-61.8% extension of waves 1-3 161% of wave 4 Equal length of wave 1 (copy and pasted to clear things up)
I'm learning to use elliot waves. I think this is correct, tell me if it's not. Anyways this is what I think.
I see a triangle which means breakout. You can short for short term but for long term it's probably best to go long because crypto going to the moon and mars.
I didn't realise that a triangle has formed for while until now. BUT which direction will it break? Only time will tell.
I see a bull flag. Wait for a breakout and enter when it does. Remember to adjust your stoploss to ATR SMA 20 every now and then. I am going pretty new to trading just to let you know.
Wait for the price to retrace back to the white line close to the accumulation zone. Then wait the price to go up and enter near the dark green line. I am learning still. Keep that in mind.
Strong momentum in MACD. Probably going to reverse as the market is also in a side trend. Quick profit. This chart was made on a phone lool