Sorry, had to zoom better, very difficult to put everything in one chart!
We are now in the final 5th wave (blue line in the chart), which will bring us to the ATH, far beyond 20k, but that's the future, let's focus on the next days/weeks.
I feel Elliot Waves (EW) gives us a good lecture on where we are now, and we are in the middle of the correction of the 2nd wave (Brown lines), which will bring us to the 9k zone.
The good news is the next wave, the 3rd wave, is a hell of bullish rally, and can bring us to the previous ATH , before the correction of the 4th wave (back to 15k -0.48% or maybe 14k 3.39% ) and then ride the final one, the 5th of the big 5th, the Maverik!
So what strategy I am deploying now: maximum incremental value of my trade portion with minimum risk. how?:
1- Waiting for the end of the actual 4th wave (yellow one) to lock some cash
2- buying some at 0.382 and .5 FIB (between $9.000 to $9.600)
3- enjoy the beginning of the 3rd wave (inside the big 5th wave)
Can we retrace more than 9k? of course yes, but then let's call for a help, cause can't see a real support before 6k!
Welcome questions, suggestions and lessons;)
Trade safe!
We are now in the final 5th wave (blue line in the chart), which will bring us to the ATH, far beyond 20k, but that's the future, let's focus on the next days/weeks.
I feel Elliot Waves (EW) gives us a good lecture on where we are now, and we are in the middle of the correction of the 2nd wave (Brown lines), which will bring us to the 9k zone.
The good news is the next wave, the 3rd wave, is a hell of bullish rally, and can bring us to the previous ATH , before the correction of the 4th wave (back to 15k -0.48% or maybe 14k 3.39% ) and then ride the final one, the 5th of the big 5th, the Maverik!
So what strategy I am deploying now: maximum incremental value of my trade portion with minimum risk. how?:
1- Waiting for the end of the actual 4th wave (yellow one) to lock some cash
2- buying some at 0.382 and .5 FIB (between $9.000 to $9.600)
3- enjoy the beginning of the 3rd wave (inside the big 5th wave)
Can we retrace more than 9k? of course yes, but then let's call for a help, cause can't see a real support before 6k!
Welcome questions, suggestions and lessons;)
Trade safe!
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As suggested by Phil, we were not riding a 1to5 wave but an abc (purple). soon after it finished, around 10.200, a 1to5 wave had to start, but it failed miserably, and we finished ending in a XWY correction.
Where it will end, not very clear, but I will bet between 93xx and 87xx (1to1 or 0.618 Fib).
If this levels don't hold... will be testing a 6k support.
Trade well
www.tradingview.com/chart/NbLqufyt/
Where it will end, not very clear, but I will bet between 93xx and 87xx (1to1 or 0.618 Fib).
If this levels don't hold... will be testing a 6k support.
Trade well
www.tradingview.com/chart/NbLqufyt/
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