Hey guys, check this shit out...
The five wave Elliott cycle has pretty much come to an end (nice divergence can be seen by the fifth wave climbing while the RSI shows an overbought situation with consecutively descending peaks) which is also confirmed by a zone of possible resistance coinciding with the same zone evident on the 10th of March 2020. In this case my prediction is that a nice reversal is due (as illustrated by the ghost feed I've drawn on my short box) with a first take profit targeting the 0.382 retracement on Fibonacci and a possible second take profit at the 0.618 Fib zone (the first take profit leaves us with a R/R ratio of roughly 1:3.
Let's get this bread guys and feel free to leave any comments! :)
The five wave Elliott cycle has pretty much come to an end (nice divergence can be seen by the fifth wave climbing while the RSI shows an overbought situation with consecutively descending peaks) which is also confirmed by a zone of possible resistance coinciding with the same zone evident on the 10th of March 2020. In this case my prediction is that a nice reversal is due (as illustrated by the ghost feed I've drawn on my short box) with a first take profit targeting the 0.382 retracement on Fibonacci and a possible second take profit at the 0.618 Fib zone (the first take profit leaves us with a R/R ratio of roughly 1:3.
Let's get this bread guys and feel free to leave any comments! :)
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.