Long
MATIC/USDT Elliott Wave count
I have two bullish scenarios here from Matic if it can be accepted above one of the Fibonacci support levels:
1st. Blue - It can create a leading diagonal, 3-3-3-3-3 formation, but the 5th wave must terminate somewhere below 1.80 because it can not exceed the 3rd wave
2nd. Red - it can create a WXYXZ correction that can go somewhere between 1.9 - 2.0(if it will correct from the 0.618 support level
Invalidation point of this two counts will be below 1.33
1st. Blue - It can create a leading diagonal, 3-3-3-3-3 formation, but the 5th wave must terminate somewhere below 1.80 because it can not exceed the 3rd wave
2nd. Red - it can create a WXYXZ correction that can go somewhere between 1.9 - 2.0(if it will correct from the 0.618 support level
Invalidation point of this two counts will be below 1.33
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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.