DYDX – Perfect Fitting! Binance: DYDXUSDT By SkyrexTrading – Technical Analysis – 2022-10-23 07:48:53

Hello all!

Let’s continue analyzing the altcoins. Today I found the original with the perfect thing for you Elliott waves formation – composition. I’ll show you a proof that this configuration is valid, so we can be sure of the possible trading settings.

In the 4-hour time frame DYDXUSDT chart we can see the clear picture of 5 wave Elliot formation – composition. Wave 1 has the exact price retracement at 0.61 Fibonacci retracement area, then wave 3 was extended and ended at 2.61 Fibonacci extension . Given that wave 2 ended at 0.61, wave 4 should have ended at 0.38, and that is the case. Wave 5 ended at 0.61 Fibonacci extension In connection with the difference create conditions of perfection Elliott waves end of the course.

DYDX is now under ABC correction. Wave A has already ended and wave B is forming. 0.61 Fibonacci retracement It is the target of wave B ($1.50). After that we can wait for wave C. The target area for wave C and the complete ABC correction is 0.618 of the fifth wave cycle. I will enter a buy position at $1.35.

Sincerely, Evan


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