The Elliott Wave count was very hard to figure out for awhile, so I ditched it. After the 5th wave completed on the Micro level that confirmed it for me. Wave 3 was so overly extended (which was the reason the count was hard) that wave 5 was almost a perfect 1:1 extension of wave 1. Next was our larger B corrective wave, which a lot of analysts were trying to count 5 waves up, but couldn't. That's because it should only be 3. Many people thought it was the start of a bull trend. I made no trades until I confirmed the 3 waves up + RSI + MACD + Rising Wedge + 100 EMA resistance on the 4-hour timeframe. When it broke the wedge and started to fall hard it was evident we were/are starting our final C wave composed of 5-3-5. We are now finishing wave 5 of the first 5 waves. The bottom will be determined easier the closer we get, but for now, I would expect AT LEAST $5,800 for the double bottom, possibly lower. Thumbs up if you would like me to update this.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.