smartincomepaths

TokenCard on the retrace of the 5th Elliott Wave

BITTREX:TKNBTC   TokenCard / Bitcoin
TokenCard appears to be finishing the 5th Elliott Wave as a retracement is now forming. My target is for the prices to bounce off of the .618 fib (Wave A) then right above the .5 fib (Wave B) and then finishing out right above the .718 fib (Wave C). I am looking for an entry at that point (0.00037899 to 0.00033221). I will check back on this chart in a few days to see how the retracement plays out.
Kommentar: TokenCard is playing out as I had thought. The good news is that it has now hit the entry zone.
Where is the 1st wave? I dont see a proper Eliot wave in your assessment.
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@bencarneva, I didn't draw it out in the initial post. However, here is the Elliott Wave (12345) as requested and diagrammed in yellow.

snapshot

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bencarneva smartincomepaths
@smartincomepaths, Thanks! I was under the impression that the 3rd leg had to be the longest of the 5 legs. I guess it's close enough that most traders would see it as such. Thanks again, I hadn't seen that first run-up as leg #1. The chart seems to be reacting accordingly. Time will tell!
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Broom PRO bencarneva
@bencarneva, Also, I don't think the 4 wave can enter the territory of the 1st wave, which it did. I don't think this is an elliot wave.
+1 Antworten
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