On our first rally to first Flag we are seeing around 100% price up. After first and to our second Flag we are seeing around 41% price up. So, we are in up momentum, but it is weaker now first rally, because of that I will use my profit before 8000, with around 37% profit.
I measured both moves to the downside and both are around a -20% pull back. Let's hope this final leg up can get it. Possible Elliot Wave forming?
tired_man_willis
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@The_Altcoin_Trade, EDIT: Yeah, it looks like a possible Elliot Wave formation :D
DogenSrb
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@The_Altcoin_Trade, I'm not EW trader but yes. First my tought was that is forming EW. I just read little about EW. In the most cases, EW 3 is longer then EW 5. and EW 5 is same as the EW 1. In our case, if I draw good, our first EW is around 45% so can expect EW 5 around 45%. That is little above 8000, but I would not be greedy, and I will sell under 8000. :) 8000 is also psychological number, I don't love to playing with rounded numbers. :D
tired_man_willis
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@DogenSrb, Completely agree on all points. I'm glad to see other people with similar layouts. Gives me confidence lol