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
הערה
הערה
הערה
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.
הערה
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.
הערה
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.
הערה
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.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.