falling wedge
Please excuse the messy annotations. This is my first attempt to use Elliot wave .
Based on my interpretation we are heading towards the end of a C subwave or the end of an wave 5 of an inverted impulse wave.
if it heads towards the bottom end of the wedge and bounces it may be an abcde correction.
overall if we take a step back and look i believe we are headed towards a larger wave 5 impulse.
We can see some bullish divergence on the rsi .
Because wave 1 is usually the same length as wave 5 we may reach targets as high as 68.
Based on my interpretation we are heading towards the end of a C subwave or the end of an wave 5 of an inverted impulse wave.
if it heads towards the bottom end of the wedge and bounces it may be an abcde correction.
overall if we take a step back and look i believe we are headed towards a larger wave 5 impulse.
We can see some bullish divergence on the rsi .
Because wave 1 is usually the same length as wave 5 we may reach targets as high as 68.
Nota
A more conservative target may be 64 if we assume a double topNota
Entry 59.95 from laddering. In hind sight I should be more patient with the inverted impulse sub waves to form to get a better price and/or to reduce riskNota
Currently breaking out! very exciting![img]tradingview.com/x/b4xkimqT/]/img]
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.