ETH/USD Elliott Wave Anaysis

 ETH/USD daily chart

From the above daily chart of ETH, it is very visible that prices are moving in a lower highs and lows. Also prices are below the falling trend line which is a negative sign.

However, as per wave theory, if this trend line is broken which means a bullish break can be seen, I will no be bullish unless there is a follow up action providing confirmation. So I have placed my wave counts with possible scenarios.

The first fall can be seen as wave a which is impulsive in nature. So if this is wave a of zigzag then wave b is unlikely to move above 61.8% of wave a. In wave b wave wave a and wave b is over and wave c can surpass wave a of wave b which can move till $2900-3000 levels. 

If wave b continues to move above $3600 level then the first scenario will be negated and another impulse will start.

Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and the fees for the same will be Rs. 12,000/-

Elliott and Neo Wave analysis is conducted for 1 month, this is an advance technical course suited for professional traders. Twice a week, 2 hours will be given for theory as well as practical application. The fees for it will be Rs. 10,500/-.

Classroom training and webinars both are available. If you reside in Mumbai, classroom training is conducted in Vile Parle near station and Borivli Station. For inquiry and registration call +919324174580.


Popular posts from this blog

Nifty in Ending Diagonal Pattern?

GOLD and Elliott Wave Counts

Gold Anticipated Happned