Here we have shared possible Elliot wave counts of ETHUSD (for educational purpose only) which are suggesting correction for very short term and this correction can be used as good opportunity to go long for further trend which is expected post this correction, the invalidation level of further up move can be low of previous wave 1 which is pegged at 1071.50, if it breaks below this level then we can assume that our counting is missing something and we may invalidate this structure, Overall we are unfolding some impulse in which we had completed wave (1) and now possibly we are heading to unfold wave (2) and then, post correction we can start wave (3). wave (2) can unfold in three subdivisions like ABC and ABC can unfold in 5-3-5 structure or 3-3-5 structure. Lets see what happens next. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Overall wave structure is shared below
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Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Sir, don’t use an arithmetic scale chart for the Wave Counts on such a larger timeframe as waves are dressed not according to the points but according to the percentage.
So, the correct method for tracking the stock market is to use semi- logarithmic chart paper.
gokulabhagwani
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excellent. how do you conclude with such high accuracy
So, the correct method for tracking the stock market is to use semi- logarithmic chart paper.