Please be kind, i´m just starting to lern the Elliot Wave Theorie and want to praktice what I`ve learnd in the past week.This is only a Idea of a midterm Trading Plan, its no Financial advice nor a trading setup itself.It just shows an Idea which could be used to form a proper Trading setup.
We can see a Breakout of the corrective Triangle but without Volume so it´s more risky. In Case of failing of this breakout and if it can´t hold The 0.618 fib lvl. and fall back into the triangle would be really bearish and would invalidate this IPlan. This could result in a Bulltrap so take care of your Riskmanagement. The Wave Targets are based on the trending Fibonacci extensions and should be adjusted with Horizontal Levels, shortterm Reversal Patterns, RSI divergences/MACD Crossovers for much more Precision.
Greets,
Crafty
We can see a Breakout of the corrective Triangle but without Volume so it´s more risky. In Case of failing of this breakout and if it can´t hold The 0.618 fib lvl. and fall back into the triangle would be really bearish and would invalidate this IPlan. This could result in a Bulltrap so take care of your Riskmanagement. The Wave Targets are based on the trending Fibonacci extensions and should be adjusted with Horizontal Levels, shortterm Reversal Patterns, RSI divergences/MACD Crossovers for much more Precision.
Greets,
Crafty