Case for February 5th 555 ETH/USD as the low; Set stop, go long?
Fib pull from Feb. 2017 to highest point in Dec. 0.618 is around $550, that is assuming a giant 5 wave correction is complete and tapped the 0.618 Feb. 2018. It is marked in blue.
Fib pull from Feb. 5, 2018 low to Feb 17th high., assume 5 wave complete, bottom in at $555, we are just shy of the 0.618. Marked in blue also. ~$720 and also corresponds to the 0.5 from Feb 2017 low to highest point.
On the corrective wave down (where we are now). 100% of the (a) wave projected from the proposed (b) alludes to a $700 (c). Confluence with the above 0.618 from $555 to $980.
On the latest move down, (3-iii) and iv in, a v (5th) based off of the length of the i (1st) wave projected from the iv (4th) puts us ~$718-$694.
We get a nice pocket of confluence around $710.
We could go as deep as the 0.786 on the shorter frame from $555 to $980 which is ~$645. Below that we have to assume we are still correcting from the past years giant move and that ~$555 is not a confirmed low.
Every blue line indicates a spot I expect support based on fib, every red dashed line is an algo sell target, we have a ways to go. No need to FOMO.
*Always set a stop.
*There is no method to forecast price, Elliott is a way to organize the chart and apply probabilities to increase your chances of a win.
-R
Fib pull from Feb. 5, 2018 low to Feb 17th high., assume 5 wave complete, bottom in at $555, we are just shy of the 0.618. Marked in blue also. ~$720 and also corresponds to the 0.5 from Feb 2017 low to highest point.
On the corrective wave down (where we are now). 100% of the (a) wave projected from the proposed (b) alludes to a $700 (c). Confluence with the above 0.618 from $555 to $980.
On the latest move down, (3-iii) and iv in, a v (5th) based off of the length of the i (1st) wave projected from the iv (4th) puts us ~$718-$694.
We get a nice pocket of confluence around $710.
We could go as deep as the 0.786 on the shorter frame from $555 to $980 which is ~$645. Below that we have to assume we are still correcting from the past years giant move and that ~$555 is not a confirmed low.
Every blue line indicates a spot I expect support based on fib, every red dashed line is an algo sell target, we have a ways to go. No need to FOMO.
*Always set a stop.
*There is no method to forecast price, Elliott is a way to organize the chart and apply probabilities to increase your chances of a win.
-R
Commentaire:
Commentaire:
Commentaire:
Upside target 161.8 at ~$1400, may be wise to pull some profits at the 100% and 123.6% length of wave 1 from wave 2.
Upside target 161.8 at ~$1400, may be wise to pull some profits at the 100% and 123.6% length of wave 1 from wave 2.
Commentaire:
We know a zig-zag correction the (c) can be 123.6% the length of the (a), we see this here which also corresponds to the 0.786.
We know a zig-zag correction the (c) can be 123.6% the length of the (a), we see this here which also corresponds to the 0.786.
Commentaire:
Target highlighted in blue box, after retracement- first target ~$850 (small retracement), second target ~$920 (big retracement). Final target (conceivable) ~$1350. Plenty of opportunities to stack-up or enter. No need to FOMO.
Target highlighted in blue box, after retracement- first target ~$850 (small retracement), second target ~$920 (big retracement). Final target (conceivable) ~$1350. Plenty of opportunities to stack-up or enter. No need to FOMO.
Commentaire:
We are still bouncing around in the same range, there were a couple of good opportunities off of the 618. With more chart clarity I am add to the realm of possibilities we are in a 4th wave correction triangle type with a downside target around $600-620, 161.8% the length of the 1 from the end of the 4th wave, 88.6% retracement on the 1-2 or the length of the triangle open projected down. All three about line up $610+/-10.
We are still bouncing around in the same range, there were a couple of good opportunities off of the 618. With more chart clarity I am add to the realm of possibilities we are in a 4th wave correction triangle type with a downside target around $600-620, 161.8% the length of the 1 from the end of the 4th wave, 88.6% retracement on the 1-2 or the length of the triangle open projected down. All three about line up $610+/-10.