Hey traders,
On the 4H timeframe, SHIBUSDT seems to be completing Wave III of a classic 5-wave impulse structure. We can clearly identify:
- Wave I and II behind us
- Wave III topped out recently with a strong push upward
- Now expecting a Wave IV correction to unfold
What supports this setup:
- Wave II was an irregular correction (note how Wave B pushed above Wave A).
- According to Elliott Wave alternation rules, if Wave II is complex/irregular, Wave IV is likely to be a simple ZigZag (ABC) correction.
- Zigzags are typically sharp and quick, which fits the momentum of the current market structure.
🕵️♂️ What’s next?
- The potential correction target lies in the marked rectangle zone (around -10% to -13% drop
from the recent top).
- On lower timeframes (like 7min or 10min), we’ll be watching for a support break to confirm
the start of Wave IV.
- If the support is broken with confirmation, that may offer an opportunity to enter a short
position — as long as it fits within the personal risk parameters.
📌 Disclaimer: This is not financial advice. Trading is risky — always manage your risk, do your
own research, confirm your setups, and never blindly follow others. Stay safe and smart.
🧠 Are you planning to catch this correction? Or waiting for the final Wave V? Let me know in the comments 👇
On the 4H timeframe, SHIBUSDT seems to be completing Wave III of a classic 5-wave impulse structure. We can clearly identify:
- Wave I and II behind us
- Wave III topped out recently with a strong push upward
- Now expecting a Wave IV correction to unfold
What supports this setup:
- Wave II was an irregular correction (note how Wave B pushed above Wave A).
- According to Elliott Wave alternation rules, if Wave II is complex/irregular, Wave IV is likely to be a simple ZigZag (ABC) correction.
- Zigzags are typically sharp and quick, which fits the momentum of the current market structure.
🕵️♂️ What’s next?
- The potential correction target lies in the marked rectangle zone (around -10% to -13% drop
from the recent top).
- On lower timeframes (like 7min or 10min), we’ll be watching for a support break to confirm
the start of Wave IV.
- If the support is broken with confirmation, that may offer an opportunity to enter a short
position — as long as it fits within the personal risk parameters.
📌 Disclaimer: This is not financial advice. Trading is risky — always manage your risk, do your
own research, confirm your setups, and never blindly follow others. Stay safe and smart.
🧠 Are you planning to catch this correction? Or waiting for the final Wave V? Let me know in the comments 👇
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.
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.