Eth offering up an Elliott Wave soft ball here?
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Ethereum appears to be printing a beautiful impulse here.
An impulse is a fantastic anchor in Elliott Waves.
There are many ways it can develop that could telegraph a potential for continuation, or a reversal.
I want to see a completed impulse down here at a lessor degree, followed by a retrace to an area of confluence, about 50% back internally to the smaller degree impulse, before looking for a continuation down.
Since, per Elliott wave, price is fractal it could snow ball into a larger move to the down side.
3356 would be the invalidation for a the short.
If that is broken I would wait for further upside to complete, and look for the same clues higher up.
If it completes down and the impulsive move up is complete here, PA does not move up past 3356, I would be looking for a reaction, in the form of an impulsive move up. If this occurs I would scout for an internal retracement of the reactionary impulse to confluence before looking for a long.
Ethereum appears to be printing a beautiful impulse here.
An impulse is a fantastic anchor in Elliott Waves.
There are many ways it can develop that could telegraph a potential for continuation, or a reversal.
I want to see a completed impulse down here at a lessor degree, followed by a retrace to an area of confluence, about 50% back internally to the smaller degree impulse, before looking for a continuation down.
Since, per Elliott wave, price is fractal it could snow ball into a larger move to the down side.
3356 would be the invalidation for a the short.
If that is broken I would wait for further upside to complete, and look for the same clues higher up.
If it completes down and the impulsive move up is complete here, PA does not move up past 3356, I would be looking for a reaction, in the form of an impulsive move up. If this occurs I would scout for an internal retracement of the reactionary impulse to confluence before looking for a long.
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