Guys, ETH rallied in 5 waves into its January high. It struggled seriously to rally with BTC together lately, showing relative weakness. The pattern has the characteristics of a fading 3-waves correction from the February lows. This makes the entire structure probably an extending leading diagonal, which is similar to BTC. Elliott's rules for this pattern calls for a longer wave 5 than wave 3. This impiles a target around or below $400 short-term.
Setup:
S/L 895
T 410
Setup:
S/L 895
T 410
עסקה סגורה: היעד הושג:
Yesssss Baby! Target reached for a magnificent profit.
Closing all crypto shorts right now.
Closing all crypto shorts right now.
הערה:
+47%
That's why trading is the best job in the galaxy!
That's why trading is the best job in the galaxy!
this is an ugly mofo... the structure is still incomplete as of March 18th, 19:40 UTC. Still looking for lower lows.
Really hope we could raise your awareness of the risk involved here if u did not go for this trade...
Best, SI