The breakdown of the diagonal is likely a HTF Primary W1 into W2 because it's on the monthly. Typically a leading diagonal is a bearish precursor to a reversal.
Also leading diagonals most likely form a wave 1 into w2 set ups.
The 786% might be too optimistic, as the wave 1 was 5 up which means sub wave A which equals the 5 up diagonal which equals the HTF w1 is a HTF Zig Zag & Zig Zags can bounce off the 50%-618%.
But the underlying nature of W2 is to destroy any hope of the wave 3.
So rather the 786% is usually a trademark of the wave 2.
Basically a lot of conflicting forces at play here as to where the bottom forms.
But catching this dip for a LT play seems very smart as W3 is targeting $16-$18 & Wave 5 $200 plus.
Also leading diagonals most likely form a wave 1 into w2 set ups.
The 786% might be too optimistic, as the wave 1 was 5 up which means sub wave A which equals the 5 up diagonal which equals the HTF w1 is a HTF Zig Zag & Zig Zags can bounce off the 50%-618%.
But the underlying nature of W2 is to destroy any hope of the wave 3.
So rather the 786% is usually a trademark of the wave 2.
Basically a lot of conflicting forces at play here as to where the bottom forms.
But catching this dip for a LT play seems very smart as W3 is targeting $16-$18 & Wave 5 $200 plus.
If your interested in joining my group DM me for the link. We do Elliot Wave TA give trade signals and set ups. We have channels for all cryptocurrency and also many OTC stocks. TY
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
If your interested in joining my group DM me for the link. We do Elliot Wave TA give trade signals and set ups. We have channels for all cryptocurrency and also many OTC stocks. TY
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.