Dow Jones, Elliott's Waves, Wave C to be completed
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Hello,
here is my first graph with Elliott's Waves. I m new to this, and it can be totally wrong, but I do see 3 potential short-term targets on the 4h chart. Any of those could act as a resistance and then we would start going back down.
I might try a quick LONG with a tight SL if we break the 23 878 and then get SHORT anytime we get close to 24 200 with a SL at 24500. And go short directly if we don't confirm a break above 23 878
Let me know what you think, thanks !
here is my first graph with Elliott's Waves. I m new to this, and it can be totally wrong, but I do see 3 potential short-term targets on the 4h chart. Any of those could act as a resistance and then we would start going back down.
I might try a quick LONG with a tight SL if we break the 23 878 and then get SHORT anytime we get close to 24 200 with a SL at 24500. And go short directly if we don't confirm a break above 23 878
Let me know what you think, thanks !
Trade ist aktiv
If we don't break 23 878, in next 2 candels, my target will be 22 000 by wednesdayAnmerkung
for clarity, next two candles where wstreet is openedTrade ist aktiv
We have definitely break the first point of 23878 (100% of wave A of retracement)The market is in a range for past 3 hours, and it could mean accumulatiion to then move forward to 24274. There could be a re-test of 23880 before going back upward to reach the 24274 target.
Moving down through 24274 would bring on the bears
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Still in wave CI think we are also in sub wave 5 out of 5, which should end up around 24 270
Then, we might see a daily candle up to 24 426 (small rising star ?), and after that I m all bear.
Trade ist aktiv
Two potential targets for this last 5 out 5 closing the C wave :
- 24089
- 24135
5th wave could also be extended to reach something between 24 200 and 24500
I will be moving my stop loss higher and higher
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Markets close at 24102We can still go up quiet a bit as this could be extended up to 24500.
Trade ist aktiv
Most likely going to 24 500 and higher* 24 500 would be the end of Wave 3
* Wave 4 would then retrace to 24374 or 24296 or 24236
* Then Wave 5, final Wave, will start and it might get truncated anytime.
I keep moving my SL (to take profit) up to 24500 just under previous resistance
I won't enter short at 24500, i ll wait to see at least a partial retrace of wave4, then might enter wave 4 with very very tight SL, because then Wave5 could be truncated or run very very high as an extended wave, which would kill a lot of shorters and put a lot of buy pressure.
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It would be totally crazy if last Wave could run up to +- 25114 and make it a perfect 0.618 retracement from the last big dump. If it doesn, there could be a MASSIVE rejection which would rekt many traders
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