Elliott wave Ethereum analysis  05.09.2022

The ETHUSD market is forming the large linking wave (X) as a triple zigzag W-X-Y-X-Z, with the final motive wave Z unfolding inside as a standard zigzag [A]-[B]-[C]. After corrective wave [B] completed as a double zigzag (W)-(X)-(Y), the market has been forming the initial part of the [C] wave. The [C] wave should be forming as an impulse (1)-(2)-(3)-(4)-(5), as outlined in the chart. Corrective wave (2), currently developing, could finish at a level of 1732.29, marked by sub-wave 4.

Trading plan for ETHUSD today:

Buy 1555.66,

Take profit: 1732.29.

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