Bull: Pennant and Flag, 1D 3rd Wave incoming?

2021年4月21日

*Bull Biased*
*Note* I have a large widescreen monitor that I have in 'portrait display mode' So I have a really long screen from top to bottom, I will work on trying to make my idea's better display for those who don't have a monitor like mine. I understand it probably makes looking at the chart really hard. You can zoom, squeeze and manipulate it though.*


Hello fellow traders! DOGE Day was fairly disappointing but it has allow those who didn't have the best position at first, to regain a new position through a short.
Congrats if you were able to do so as it touch .29 in the low!

On the 8H, I see a few things. Let's look at the Pennant and flags first. I saw the pennant yesterday before the low and it has yet to go below the area. It's possible the pennant is even smaller than I've drawn.
I suspect that we will see a similar uptrend from this second bull flag, similar to how the first flag recovered.
RSI will help to confirm this hypothesis.

The other thing I see on the 8H is a nice Impulse wave. It could be a 3 or 5 wave system. Either way, in the 8H, we've completed that impulse wave from the looks of it. But since waves are fractals, going up or down in time line (fractally) should show more waves inside the other waves.

Where I believe the waves are, are labeled ABC. The red wave is the inner wave on the 8H Timeline and the Blue wave is the 1D timeline.
Since wave 3 is typically 168.1% of wave 1, I don't think the wave trend started prior to where I've marked it. It's just my hypothesis though. If you have Elliott Wave knowledge, I'd love to hear what you think!

*Sorry, drawings from the 1D look like crap on the 8H* I'm not sure how to not allow that to happen.

8H chart for better visibility and clarity


1D chart