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Elliott Wave analysis for Ethereum 17.08.2022

The ETHUSD rate is correcting to the upside in a big wave [B]. This wave is forming as a double zigzag (W)-(X)-(Y). The current chart shows the structure of the ultimate actionary wave (Y), which looks like a simple zigzag A-B-C. The impulse wave A and its bearish correction B have been completed. The last impulse sub-wave C is currently unfolding. To be fully complete, it requires sub-waves [3]-[4]-[5]. They may continue developing to level 2209.00. 

Trading plan for ETHUSD for today:

Buy 1870.42,

Take profit: 2209.00.







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