Experimenting with Elliott Wave lately which brings a lot more structure and clarity in the whole thing. I know it's a very subjective 'art' and everyone has a different count, but it does give me more confidence in my analysis.
In these charts we see the 2017 run on the left, and the current run on the right. I argue that we are now in the last leg of the macro 1 to 5 count, so wave 5.
The fractal of 2017 can be seen beneath the current candles in the chart on the right. It fits nicely in terms of time, although this run we move faster, and the corrections are similar in both runs (check the colored lines underneath the corrections).
If the similarities continue in terms of price and time we might see $200k+ somewhere mid-2021. However, keep in mind, fractals work until they don't :)
In these charts we see the 2017 run on the left, and the current run on the right. I argue that we are now in the last leg of the macro 1 to 5 count, so wave 5.
The fractal of 2017 can be seen beneath the current candles in the chart on the right. It fits nicely in terms of time, although this run we move faster, and the corrections are similar in both runs (check the colored lines underneath the corrections).
If the similarities continue in terms of price and time we might see $200k+ somewhere mid-2021. However, keep in mind, fractals work until they don't :)
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Disclaimer: I'm resizing the fractal to make it fit the current price action better as we go on. Sometimes we move faster, sometimes slower. But still on track.
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Starting to move faster / out of sync. Let's see.
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It's going its own way now on low timeframes.
If I compare RSI we could be somewhere in this region.
If I compare RSI we could be somewhere in this region.