daily logarithmic time-frame: failed reaching the Andrew's pitchfork midline hence trying to break down the pitchfork. Meanwhile them MACD signals for short.
weekly time-frame: end of wave 5 with divergence confirmation. daily time-frame: A 3drive compression pattern shaped and confirmed with the trigger line break down closed candle.
day time-frame logarithmic scale: harmonic pattern shaped and trigger fired today. SL and TP drawn on chart.
daily time-frame logarithmic scale: a 5 wave correction wave formed through a channel. the 5 wave pattern completed and channel breaked down and pullback completed.
daily time frame is down. in 4h time-frame there is an important resistance level. we have divergences in both RSI and MACD indicators on the level. A short price-action setup confirmed on the level too.
daily time-frame logarithmic scale: after failing to reach the midline of the Andrew's pitchfork, breaked the pitchforked down and the classic target for this short position is to the 3rd point of Andrew's pitchfork.
failed to break the down-trend line. trigger short based on Price-action
Weekly time-frame: end 5th wave. ready for correction.
resistance cluster consists of: candles, fibanacci retracement 50% and andrew's pitchfork.
this chart shows weekly time-frame of #MATIC and related to the last analysis in daily time-frame.
first impulsive wave as wave 1, formed in 5-3-5-3-5 waves and created a harmonic pattern named wolfe-pattern. SL: end of wave 5 TP: end of wave 4
It seems in 1h time-frame a full cycle of 5 impulsive waves and 3 corrective waves have been completed. going for a new impulsive waves series.
in daily time-frame the up-trend is over based on Elliot-wave. in 1h time-frame I place a short-stop command based on daily analysis via price-action.
end of wave 5. beginning of correction at least to the wave 4. confirmed with break out down the channel.
long position. #XRP #USDT #Elliot #Fibonacci #Fork