ADAUSDT Short Idea / Elliot Wave Principles / Fib Analysis
2024-12-13
Category: None

When analysing the market, I noticed this potential Elliot Wave setup on ADAUSDT. For a number of reasons, I suspect that this pairing is forming a good opportunity to achieve a ~5.5 R:R short.

The process taken to get to this idea is as follows:

  Macro view of the support / resistance flip zone on ADA between $1.20 and $1.30.
  

  Clean chart showing the interaction with the support / resistance zone.
  

  Validation of Wave 1 Rules
  

  Validation of Wave 1/2/3 Rules
  

  Validation of Wave 4 Rules
  

  Validation of Wave 5 Rules
  


Correction Wave and Short Area of Interest


