Elliott wave Ethereum analysis 16.11.2022

ETHUSD continues to decline as part of the first leg of a potential zigzag. In other words, wave A is unfolding as the impulse [1]-[2]-[3]-[4]-[5]. The corrective wave [4] may take the shape of a double zigzag (W)-(X)-(Y). The actionary sub-wave (W) and the countervailing wave (X) have already been completed. Now a sub-wave (Y) is unfolding. It may be completed near the level of 1346.56, where the sub-wave (W) ended.

Trading plan for ETHUSD today:

Buy 1252.20,

Take profit: 1346.56.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.