Based on 2 series of elliott waves I've calculated. I have listed the Daily and the Weekly. We are currently selling down on the C wave of the Daily Elliott Wave. There is a hidden Bearish cypher pattern, that initially bounced off of B leg, but we are showing a Triangle and its holding. The failed breakout will result in a retrace back below B leg and break $50, which leads us to my 1st target of $35k,,,
More updates will follow once we retrace to the $35k level
More updates will follow once we retrace to the $35k level
Trade active
Note
another c wave sell off, this is the right side of the bearish cypher pattern...Note
I like to trade between multiple time frames, after viewing the long term trend. I also trade heavily off the money flow, and Accumulation/Distribution. I trust nothing but the MONEY. The rest is noise imho....I also measure the money flow w/ fibs, and looking back on smaller time frames to confirm the larger trend.
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The Short position was close, I will revisit the 3rd wave around 69kTrade active
Trade closed manually
Trade active
back on the short positionDisclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.