SUMMARY
For corrections, there are so many combinations and possibilities and thus not worth trading; but rather step aside and target the terminal for laddered entries.
Ethereum (ETH) is stil correcting and the below chart shows the current progression of the labeled ABC decline. Since wave A has three subwaves; it's Flat (3,3,5). B clearly has three waves and the current decine is likely the five subwaves of C.
However, pattern allows additional awareness. If lines are drawn, the below chart shows the running potential of a symmetrical triangle in development. However, this is the alternate count given that its depth of decline is too shallow to churn the effects of the prior five wave impulse up (blue).
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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